MQS Management LLC Acquires Shares of 15,035 Gannett Co., Inc. $GCI

MQS Management LLC acquired a new stake in shares of Gannett Co., Inc. (NYSE:GCI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,035 shares of the company’s stock, valued at approximately $54,000.

Other hedge funds also recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC lifted its stake in Gannett by 27.7% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 684,493 shares of the company’s stock valued at $2,450,000 after buying an additional 148,627 shares in the last quarter. Invst LLC purchased a new stake in Gannett during the first quarter valued at about $1,134,000. Dynamic Technology Lab Private Ltd purchased a new stake in Gannett during the first quarter valued at about $316,000. Sullivan Wood Capital Management LLC purchased a new stake in Gannett during the second quarter valued at about $676,000. Finally, Principal Financial Group Inc. lifted its stake in Gannett by 3.6% during the first quarter. Principal Financial Group Inc. now owns 89,419 shares of the company’s stock valued at $258,000 after buying an additional 3,074 shares in the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Gannett in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Gannett Price Performance

NYSE GCI opened at $4.08 on Wednesday. The company has a 50 day simple moving average of $4.04 and a 200-day simple moving average of $3.75. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.73 and a quick ratio of 0.70. The firm has a market capitalization of $597.48 million, a price-to-earnings ratio of 11.99 and a beta of 2.55. Gannett Co., Inc. has a 52-week low of $2.55 and a 52-week high of $5.91.

Gannett (NYSE:GCI) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.49. The firm had revenue of $584.86 million for the quarter, compared to analyst estimates of $593.13 million. Gannett had a net margin of 4.84% and a return on equity of 53.24%.

Gannett Company 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.