Murchinson Ltd. Purchases Shares of 343,750 Gannett Co., Inc. (NYSE:GCI)

Murchinson Ltd. acquired a new stake in Gannett Co., Inc. (NYSE:GCI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 343,750 shares of the company’s stock, valued at approximately $1,585,000. Gannett comprises approximately 0.3% of Murchinson Ltd.’s investment portfolio, making the stock its 26th largest position. Murchinson Ltd. owned 0.23% of Gannett at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Apollo Management Holdings L.P. boosted its stake in Gannett by 34.8% in the 4th quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company’s stock valued at $26,655,000 after purchasing an additional 2,994,806 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Gannett by 103.2% during the fourth quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company’s stock worth $2,523,000 after buying an additional 557,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Gannett by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,979,617 shares of the company’s stock valued at $22,954,000 after acquiring an additional 229,539 shares during the period. FourWorld Capital Management LLC acquired a new position in shares of Gannett in the first quarter valued at about $488,000. Finally, Kennedy Capital Management LLC bought a new position in Gannett during the first quarter worth about $394,000. 76.71% of the stock is owned by institutional investors.

Gannett Stock Up 2.9 %

GCI stock opened at $5.37 on Tuesday. Gannett Co., Inc. has a 52 week low of $1.66 and a 52 week high of $5.93. The business has a 50-day simple moving average of $4.83 and a 200 day simple moving average of $3.85. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 3.83. The company has a market cap of $792.33 million, a PE ratio of -6.17 and a beta of 2.48.

Gannett (NYSE:GCI) last issued its 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. The company had revenue of $639.84 million during the quarter. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%.

Wall Street Analyst Weigh In

GCI has been the subject of a number of recent research reports. JMP Securities raised shares of Gannett to a “strong-buy” rating in a report on Friday, August 2nd. Citigroup upgraded shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price target for the company in a research report on Tuesday, September 17th.

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.