UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases New Stake in Gannett Co., Inc. (NYSE:GCI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Gannett Co., Inc. (NYSE:GCI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 231,635 shares of the company’s stock, valued at approximately $1,302,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Gannett as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Gannett by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 740,115 shares of the company’s stock worth $3,412,000 after purchasing an additional 40,481 shares during the period. Bailard Inc. bought a new stake in shares of Gannett in the second quarter valued at $260,000. Cambiar Investors LLC purchased a new position in shares of Gannett during the 2nd quarter valued at $49,000. Rhumbline Advisers grew its stake in shares of Gannett by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock worth $1,066,000 after acquiring an additional 3,333 shares during the period. Finally, American Century Companies Inc. increased its holdings in Gannett by 22.2% in the 2nd quarter. American Century Companies Inc. now owns 186,964 shares of the company’s stock worth $862,000 after acquiring an additional 33,948 shares during the last quarter. Institutional investors own 76.71% of the company’s stock.

Gannett Stock Up 3.0 %

Gannett stock opened at $5.52 on Wednesday. The firm has a market capitalization of $813.71 million, a price-to-earnings ratio of -6.81 and a beta of 2.55. The firm has a 50 day simple moving average of $5.34 and a 200 day simple moving average of $4.97. Gannett Co., Inc. has a 1-year low of $1.95 and a 1-year high of $5.93. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 3.88.

Analyst Upgrades and Downgrades

Separately, Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective on the stock in a report on Tuesday, September 17th.

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.