Charles Schwab Investment Management Inc. Sells 579,142 Shares of Gannett Co., Inc. (NYSE:GCI)

Charles Schwab Investment Management Inc. cut its position in Gannett Co., Inc. (NYSE:GCI) by 22.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,996,590 shares of the company’s stock after selling 579,142 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Gannett were worth $10,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Gannett by 471.8% during the 3rd quarter. Principal Financial Group Inc. now owns 79,585 shares of the company’s stock valued at $447,000 after purchasing an additional 65,667 shares during the period. Caprock Group LLC bought a new stake in shares of Gannett during the 3rd quarter valued at $129,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Gannett by 207.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 118,038 shares of the company’s stock valued at $663,000 after purchasing an additional 79,706 shares during the period. Intech Investment Management LLC bought a new stake in shares of Gannett during the 3rd quarter valued at $309,000. Finally, FMR LLC raised its stake in shares of Gannett by 150.3% during the 3rd quarter. FMR LLC now owns 82,389 shares of the company’s stock valued at $463,000 after purchasing an additional 49,479 shares during the period. 76.71% of the stock is currently owned by institutional investors.

Gannett Price Performance

Gannett stock opened at $3.05 on Friday. Gannett Co., Inc. has a 52 week low of $2.21 and a 52 week high of $5.93. The business has a 50-day simple moving average of $4.24 and a 200 day simple moving average of $4.89. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59. The stock has a market cap of $448.74 million, a price-to-earnings ratio of -5.64 and a beta of 2.48.

Gannett (NYSE:GCI) last posted its earnings results on Thursday, February 20th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The business had revenue of $621.28 million during the quarter, compared to analysts’ expectations of $635.09 million.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market outperform” rating and set a $6.00 target price on shares of Gannett in a research report on Monday, January 27th.

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.