Creative Planning Acquires New Holdings in Gannett Co., Inc. (NYSE:GCI)

Creative Planning acquired a new stake in Gannett Co., Inc. (NYSE:GCI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 64,870 shares of the company’s stock, valued at approximately $299,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Kennedy Capital Management LLC acquired a new stake in shares of Gannett during the 1st quarter worth about $394,000. Renaissance Technologies LLC boosted its stake in shares of Gannett by 16.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,072,024 shares of the company’s stock worth $4,942,000 after purchasing an additional 148,524 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in shares of Gannett during the 2nd quarter worth about $8,659,000. Squarepoint Ops LLC boosted its stake in shares of Gannett by 1,200.4% during the 2nd quarter. Squarepoint Ops LLC now owns 254,545 shares of the company’s stock worth $1,173,000 after purchasing an additional 234,971 shares during the last quarter. Finally, Murchinson Ltd. acquired a new stake in shares of Gannett during the 2nd quarter worth about $1,585,000. 76.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GCI. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research note on Friday, August 2nd. Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 target price on the stock in a research report on Tuesday, September 17th.

Gannett Trading Down 3.7 %

NYSE GCI opened at $5.48 on Friday. Gannett Co., Inc. has a one year low of $1.66 and a one year high of $5.93. The company’s 50 day moving average price is $5.12 and its 200 day moving average price is $4.24. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. The firm has a market capitalization of $808.56 million, a price-to-earnings ratio of -6.30 and a beta of 2.49.

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

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.