Point72 Asia Singapore Pte. Ltd. Reduces Position in Gannett Co., Inc. (NYSE:GCI)

Point72 Asia Singapore Pte. Ltd. trimmed its position in Gannett Co., Inc. (NYSE:GCI) by 93.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,686 shares of the company’s stock after selling 85,932 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Gannett were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GCI. Focus Financial Network Inc. ADV purchased a new stake in Gannett in the 4th quarter worth approximately $25,000. Cambiar Investors LLC bought a new position in shares of Gannett during the second quarter valued at approximately $49,000. Sei Investments Co. purchased a new stake in Gannett in the second quarter worth $64,000. Simplicity Wealth LLC lifted its stake in Gannett by 77.9% in the second quarter. Simplicity Wealth LLC now owns 18,166 shares of the company’s stock worth $84,000 after acquiring an additional 7,952 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Gannett by 9.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock valued at $216,000 after acquiring an additional 7,732 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GCI shares. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research report on Friday, August 2nd. Citigroup upgraded shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective for the company in a report on Tuesday, September 17th.

Gannett Price Performance

GCI opened at $5.50 on Wednesday. Gannett Co., Inc. has a 12-month low of $1.66 and a 12-month high of $5.93. The company has a market cap of $811.51 million, a price-to-earnings ratio of -6.32 and a beta of 2.48. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. The stock has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $3.97.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.25. The company had revenue of $639.84 million during the quarter. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%.

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.