Point72 Asia Singapore Pte. Ltd. Decreases Position in Gannett Co., Inc. (NYSE:GCI)

Point72 Asia Singapore Pte. Ltd. decreased its position in shares of Gannett Co., Inc. (NYSE:GCI) by 93.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,686 shares of the company’s stock after selling 85,932 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Gannett were worth $26,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Troluce Capital Advisors LLC purchased a new stake in Gannett during the 2nd quarter valued at $8,659,000. Squarepoint Ops LLC lifted its holdings in shares of Gannett by 1,200.4% during the second quarter. Squarepoint Ops LLC now owns 254,545 shares of the company’s stock valued at $1,173,000 after purchasing an additional 234,971 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Gannett by 36,203.8% during the second quarter. Cubist Systematic Strategies LLC now owns 259,935 shares of the company’s stock valued at $1,198,000 after buying an additional 259,219 shares during the last quarter. Murchinson Ltd. bought a new stake in Gannett in the 2nd quarter worth about $1,585,000. Finally, Marshall Wace LLP raised its position in 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 buying an additional 104,795 shares during the last quarter. Institutional investors own 76.71% of the company’s stock.

Wall Street Analyst Weigh In

GCI has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price target for the company in a research note on Tuesday, September 17th. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research report on Friday, August 2nd.

Gannett Trading Down 2.1 %

Shares of NYSE:GCI opened at $5.50 on Wednesday. Gannett Co., Inc. has a 52-week low of $1.66 and a 52-week high of $5.93. The stock has a market capitalization of $811.51 million, a price-to-earnings ratio of -6.32 and a beta of 2.48. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. The stock’s 50-day simple moving average is $4.90 and its two-hundred day simple moving average is $3.97.

Gannett (NYSE:GCI) last announced 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 company had revenue of $639.84 million during the quarter.

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.