Charles Schwab Investment Management Inc. Sells 579,142 Shares of Gannett Co., Inc. (NYSE:GCI)

Charles Schwab Investment Management Inc. reduced its holdings in Gannett Co., Inc. (NYSE:GCI) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,996,590 shares of the company’s stock after selling 579,142 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.35% of Gannett worth $10,103,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Gannett in the third quarter valued at approximately $45,000. Ieq Capital LLC acquired a new stake in Gannett in the fourth quarter valued at approximately $54,000. PEAK6 Investments LLC acquired a new stake in Gannett in the third quarter valued at approximately $57,000. Paloma Partners Management Co acquired a new stake in Gannett in the third quarter valued at approximately $66,000. Finally, Cambiar Investors LLC grew its stake in Gannett by 27.2% in the fourth quarter. Cambiar Investors LLC now owns 13,558 shares of the company’s stock valued at $69,000 after acquiring an additional 2,898 shares during the period. 76.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $6.00 target price on shares of Gannett in a research report on Monday, January 27th.

Gannett Stock Down 3.0 %

Shares of NYSE:GCI opened at $3.05 on Friday. The stock has a market cap of $448.74 million, a price-to-earnings ratio of -5.64 and a beta of 2.48. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59. Gannett Co., Inc. has a 12-month low of $2.21 and a 12-month high of $5.93. The business’s 50 day moving average is $4.24 and its 200 day moving average is $4.89.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $621.28 million for the quarter, compared to analyst estimates of $635.09 million. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%.

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.