Ritholtz Wealth Management Has $225,000 Stock Holdings in Gannett Co., Inc. $GCI

Ritholtz Wealth Management lessened its holdings in shares of Gannett Co., Inc. (NYSE:GCI) by 14.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 62,915 shares of the company’s stock after selling 10,669 shares during the period. Ritholtz Wealth Management’s holdings in Gannett were worth $225,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. CWM LLC lifted its position in shares of Gannett by 210.0% during the 2nd quarter. CWM LLC now owns 26,089 shares of the company’s stock worth $93,000 after purchasing an additional 17,672 shares during the last quarter. Sullivan Wood Capital Management LLC acquired a new position in shares of Gannett during the 2nd quarter worth about $676,000. PFG Investments LLC lifted its position in shares of Gannett by 11.0% during the 2nd quarter. PFG Investments LLC now owns 65,453 shares of the company’s stock worth $234,000 after purchasing an additional 6,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Gannett during the 2nd quarter worth about $53,000. Finally, Silverberg Bernstein Capital Management LLC lifted its position in shares of Gannett by 27.7% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 684,493 shares of the company’s stock worth $2,450,000 after purchasing an additional 148,627 shares during the last quarter. Institutional investors and hedge funds own 76.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Gannett in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Gannett has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Gannett Trading Up 3.4%

Shares of GCI opened at $3.67 on Wednesday. Gannett Co., Inc. has a 12-month low of $2.55 and a 12-month high of $5.91. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 3.89. The firm has a market capitalization of $538.08 million, a price-to-earnings ratio of 10.79 and a beta of 2.55. The stock’s 50-day moving average price is $4.08 and its 200 day moving average price is $3.71.

Gannett (NYSE:GCI) last released 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. Gannett had a return on equity of 53.24% and a net margin of 4.84%.The company had revenue of $584.86 million for the quarter, compared to analyst estimates of $593.13 million.

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.