Straightline Group LLC Takes Position in Gannett Co., Inc. (NYSE:GCI)

Straightline Group LLC acquired a new position in shares of Gannett Co., Inc. (NYSE:GCI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,072 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GCI. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Gannett in the 3rd quarter worth about $45,000. Quantbot Technologies LP purchased a new stake in shares of Gannett in the fourth quarter worth approximately $51,000. Ieq Capital LLC acquired a new stake in shares of Gannett during the fourth quarter worth approximately $54,000. Xponance Inc. purchased a new position in Gannett during the fourth quarter valued at approximately $56,000. Finally, Cibc World Markets Corp acquired a new position in Gannett in the 4th quarter valued at approximately $67,000. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Gannett Stock Performance

Shares of GCI stock opened at $2.72 on Tuesday. Gannett Co., Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $5.93. The stock’s 50-day moving average is $3.83 and its two-hundred day moving average is $4.75. The company has a debt-to-equity ratio of 6.59, a current ratio of 0.78 and a quick ratio of 0.74. The firm has a market cap of $400.11 million, a P/E ratio of -5.03 and a beta of 2.21.

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

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.