Algert Global LLC Buys 195,150 Shares of Gannett Co., Inc. (NYSE:GCI)

Algert Global LLC grew its stake in Gannett Co., Inc. (NYSE:GCI) by 349.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 251,050 shares of the company’s stock after purchasing an additional 195,150 shares during the quarter. Algert Global LLC’s holdings in Gannett were worth $1,270,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GCI. Aquatic Capital Management LLC bought a new position in Gannett in the fourth quarter worth approximately $35,000. Quantbot Technologies LP bought a new position in shares of Gannett during the 4th quarter worth $51,000. Ieq Capital LLC purchased a new position in shares of Gannett during the fourth quarter valued at $54,000. Xponance Inc. bought a new stake in shares of Gannett in the fourth quarter valued at about $56,000. Finally, Straightline Group LLC bought a new position in Gannett during the 4th quarter worth about $56,000. 76.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and issued a $6.00 price target on shares of Gannett in a report on Monday, January 27th.

Insider Transactions at Gannett

In related news, CEO Michael Reed acquired 27,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $3.25 per share, with a total value of $87,750.00. Following the transaction, the chief executive officer now directly owns 3,134,722 shares of the company’s stock, valued at $10,187,846.50. This trade represents a 0.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Gannett Trading Up 5.4 %

GCI opened at $3.71 on Friday. Gannett Co., Inc. has a 12 month low of $2.55 and a 12 month high of $5.93. The stock has a fifty day moving average price of $3.16 and a 200-day moving average price of $4.35. The firm has a market cap of $543.28 million, a price-to-earnings ratio of -6.87 and a beta of 2.67. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59.

Gannett (NYSE:GCI) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of $571.57 million during the quarter, compared to the consensus estimate of $592.97 million. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%.

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.