56,300 Shares in Gannett Co., Inc. (NYSE:GCI) Purchased by Bailard Inc.

Bailard Inc. acquired a new stake in shares of Gannett Co., Inc. (NYSE:GCI) in the second quarter, HoldingsChannel.com reports. The firm acquired 56,300 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in Gannett by 5.5% during the 4th quarter. Mackenzie Financial Corp now owns 87,186 shares of the company’s stock valued at $201,000 after purchasing an additional 4,562 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Gannett in the 4th quarter worth about $82,000. Focus Financial Network Inc. ADV bought a new position in Gannett during the 4th quarter valued at about $25,000. Pingora Partners LLC purchased a new stake in shares of Gannett during the 4th quarter valued at about $342,000. Finally, Apollo Management Holdings L.P. grew its stake in shares of Gannett by 34.8% in the fourth quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company’s stock worth $26,655,000 after acquiring an additional 2,994,806 shares during the period. Institutional investors own 76.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research report on Friday, August 2nd. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $1.95 to $3.60 in a report on Friday, May 24th.

Gannett Stock Up 17.2 %

GCI opened at $5.73 on Tuesday. Gannett Co., Inc. has a 1-year low of $1.66 and a 1-year high of $5.91. The firm’s 50 day simple moving average is $4.67 and its two-hundred day simple moving average is $3.45. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $845.45 million, a PE ratio of -6.59 and a beta of 2.50.

Gannett (NYSE:GCI) last released its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.25. The company had revenue of $639.84 million for the quarter. Gannett had a negative return on equity of 17.12% and a negative net margin of 3.71%.

Gannett Profile

Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through three segments: Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The company's print offerings includes home delivery on a subscription basis; single copy; non-daily publications, such as shoppers and niche publications.