State Street Corp Boosts Holdings in Gannett Co., Inc. (NYSE:GCI)

State Street Corp increased its position in Gannett Co., Inc. (NYSE:GCI) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,058,266 shares of the company’s stock after purchasing an additional 116,716 shares during the period. State Street Corp owned approximately 2.75% of Gannett worth $22,807,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GCI. Bank of New York Mellon Corp raised its holdings in 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 acquiring an additional 40,481 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Gannett during the second quarter valued at $260,000. Cambiar Investors LLC bought a new stake in Gannett in the 2nd quarter worth about $49,000. Rhumbline Advisers lifted its stake in Gannett by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after acquiring an additional 3,333 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Gannett by 22.2% during the 2nd quarter. American Century Companies Inc. now owns 186,964 shares of the company’s stock valued at $862,000 after acquiring an additional 33,948 shares during the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

Gannett Price Performance

Shares of NYSE:GCI opened at $5.09 on Monday. The firm’s 50 day moving average price is $5.31 and its 200-day moving average price is $5.00. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.88. The stock has a market capitalization of $750.32 million, a PE ratio of -6.28 and a beta of 2.55. Gannett Co., Inc. has a twelve month low of $1.95 and a twelve month high of $5.93.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective on the stock in a research 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.