Dark Forest Capital Management LP Takes $57,000 Position in Gannett Co., Inc. (NYSE:GCI)

Dark Forest Capital Management LP acquired a new position in Gannett Co., Inc. (NYSE:GCI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,327 shares of the company’s stock, valued at approximately $57,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GCI. Troluce Capital Advisors LLC acquired a new stake in shares of Gannett during the 2nd quarter worth approximately $8,659,000. Squarepoint Ops LLC raised its position in shares of Gannett by 1,200.4% during the 2nd quarter. Squarepoint Ops LLC now owns 254,545 shares of the company’s stock valued at $1,173,000 after acquiring an additional 234,971 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Gannett by 36,203.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 259,935 shares of the company’s stock valued at $1,198,000 after purchasing an additional 259,219 shares during the period. Murchinson Ltd. acquired a new position in shares of Gannett in the 2nd quarter valued at $1,585,000. Finally, Marshall Wace LLP boosted its position in shares of Gannett by 90.8% in the 2nd quarter. Marshall Wace LLP now owns 220,206 shares of the company’s stock worth $1,015,000 after purchasing an additional 104,795 shares during the last quarter. 76.71% of the stock is owned by institutional investors.

Gannett Stock Performance

Shares of Gannett stock opened at $5.62 on Tuesday. The stock’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $3.97. 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 $829.22 million, a PE ratio of -6.46 and a beta of 2.48. Gannett Co., Inc. has a 12 month low of $1.66 and a 12 month high of $5.93.

Gannett (NYSE:GCI) last released its quarterly earnings data 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. Gannett had a negative return on equity of 17.12% and a negative net margin of 3.71%. The business had revenue of $639.84 million for the quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on GCI shares. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and set a $5.10 target price on the stock in a research note on Tuesday, September 17th. JMP Securities upgraded shares of Gannett to a “strong-buy” rating in a research report on Friday, August 2nd.

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.