Charles Schwab Investment Management Inc. Sells 502,704 Shares of Gannett Co., Inc. (NYSE:GCI)

Charles Schwab Investment Management Inc. decreased its holdings in shares of Gannett Co., Inc. (NYSE:GCI) by 16.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,575,732 shares of the company’s stock after selling 502,704 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.75% of Gannett worth $14,476,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GCI. Cambiar Investors LLC bought a new stake in shares of Gannett during the 2nd quarter worth approximately $49,000. nVerses Capital LLC acquired a new position in Gannett during the third quarter worth $55,000. Dark Forest Capital Management LP bought a new stake in Gannett during the second quarter worth $57,000. Sei Investments Co. acquired a new stake in Gannett in the second quarter valued at $64,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Gannett in the 2nd quarter valued at about $76,000. Institutional investors own 76.71% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 target price for the company in a research note on Tuesday, September 17th.

Gannett Stock Up 1.7 %

GCI opened at $5.29 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 3.88. The stock’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $4.90. Gannett Co., Inc. has a 1-year low of $1.86 and a 1-year high of $5.93. The stock has a market cap of $779.80 million, a PE ratio of -6.53 and a beta of 2.55.

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.