Point72 Asia Singapore Pte. Ltd. Makes New $125,000 Investment in Gannett Co., Inc. (NYSE:GCI)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Gannett Co., Inc. (NYSE:GCI) during the 4th quarter, Holdings Channel reports. The firm purchased 24,717 shares of the company’s stock, valued at approximately $125,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GCI. Aquatic Capital Management LLC bought a new stake in Gannett in the fourth quarter valued at about $35,000. Quantbot Technologies LP bought a new stake in Gannett in the fourth quarter valued at about $51,000. Ieq Capital LLC bought a new stake in Gannett in the fourth quarter valued at about $54,000. Xponance Inc. bought a new stake in Gannett in the fourth quarter valued at about $56,000. Finally, Straightline Group LLC bought a new stake in Gannett in the fourth quarter valued at about $56,000. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael Reed bought 27,000 shares of the company’s stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $3.25 per share, with a total value of $87,750.00. Following the completion of the purchase, the chief executive officer now owns 3,134,722 shares in the company, valued at approximately $10,187,846.50. The trade was a 0.87% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.70% of the company’s stock.

Analysts Set New Price Targets

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

Gannett Trading Up 1.7%

Shares of GCI stock opened at $3.60 on Friday. Gannett Co., Inc. has a 12-month low of $2.55 and a 12-month high of $5.93. The company has a market capitalization of $527.17 million, a P/E ratio of -6.67 and a beta of 2.67. The firm has a 50-day moving average price of $3.18 and a 200 day moving average price of $4.28. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%. The firm had revenue of $571.57 million for the quarter, compared to the consensus estimate of $592.97 million.

About Gannett

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.