Cibc World Markets Corp Purchases Shares of 13,283 Gannett Co., Inc. (NYSE:GCI)

Cibc World Markets Corp acquired a new position in Gannett Co., Inc. (NYSE:GCI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,283 shares of the company’s stock, valued at approximately $67,000.

A number of other large investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gannett by 207.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 118,038 shares of the company’s stock worth $663,000 after acquiring an additional 79,706 shares during the period. Intech Investment Management LLC bought a new position in Gannett in the 3rd quarter worth $309,000. FMR LLC lifted its position in shares of Gannett by 150.3% in the 3rd quarter. FMR LLC now owns 82,389 shares of the company’s stock worth $463,000 after purchasing an additional 49,479 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gannett during the 3rd quarter valued at about $1,489,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Gannett during the third quarter valued at about $45,000. 76.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Gannett Price Performance

Shares of GCI stock opened at $3.06 on Friday. 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 $450.21 million, a price-to-earnings ratio of -5.66 and a beta of 2.48. The business’s fifty day moving average is $4.09 and its 200 day moving average is $4.84. Gannett Co., Inc. has a twelve month low of $2.24 and a twelve month high of $5.93.

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

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.