86,735 Shares in Gannett Co., Inc. (NYSE:GCI) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new stake in shares of Gannett Co., Inc. (NYSE:GCI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 86,735 shares of the company’s stock, valued at approximately $487,000. Ritholtz Wealth Management owned 0.06% of Gannett as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cambiar Investors LLC purchased a new stake in Gannett during the 2nd quarter valued at about $49,000. Dark Forest Capital Management LP purchased a new stake in shares of Gannett during the second quarter valued at approximately $57,000. Sei Investments Co. bought a new position in shares of Gannett in the second quarter worth approximately $64,000. Point72 Asset Management L.P. purchased a new position in shares of Gannett in the second quarter worth $76,000. Finally, Simplicity Wealth LLC raised its holdings in Gannett by 77.9% during the 2nd 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. 76.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Gannett Stock Performance

NYSE:GCI opened at $5.74 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 3.83. Gannett Co., Inc. has a twelve month low of $1.66 and a twelve month high of $5.93. The stock has a market cap of $846.93 million, a P/E ratio of -6.60 and a beta of 2.49. The firm’s fifty day simple moving average is $5.07 and its 200 day simple moving average is $4.21.

Gannett (NYSE:GCI) last announced its quarterly 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 for 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.