Gannett Co., Inc. (NYSE:GCI) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Gannett Co., Inc. (NYSE:GCI) by 28.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 46,098 shares of the company’s stock after selling 18,316 shares during the period. SG Americas Securities LLC’s holdings in Gannett were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silverberg Bernstein Capital Management LLC grew its stake in Gannett by 2.8% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 510,866 shares of the company’s stock valued at $2,355,000 after purchasing an additional 14,105 shares during the last quarter. Simplicity Wealth LLC boosted its position in Gannett by 77.9% in the second quarter. Simplicity Wealth LLC now owns 18,166 shares of the company’s stock valued at $84,000 after buying an additional 7,952 shares during the last quarter. FourWorld Capital Management LLC acquired a new position in Gannett in the 1st quarter worth approximately $488,000. Kennedy Capital Management LLC purchased a new position in Gannett during the 1st quarter worth approximately $394,000. Finally, Apollo Management Holdings L.P. lifted its stake in Gannett by 6.1% during the 1st quarter. Apollo Management Holdings L.P. now owns 12,292,642 shares of the company’s stock valued at $29,994,000 after acquiring an additional 703,617 shares during the period. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Gannett Trading Up 1.7 %

Shares of NYSE:GCI opened at $4.89 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. Gannett Co., Inc. has a 12-month low of $1.66 and a 12-month high of $5.09. The business has a 50 day moving average of $4.64 and a two-hundred day moving average of $3.41. The company has a market capitalization of $721.51 million, a PE ratio of -5.62 and a beta of 2.50.

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

Analyst Upgrades and Downgrades

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

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.