Cubist Systematic Strategies LLC Has $1.20 Million Stake in Gannett Co., Inc. (NYSE:GCI)

Cubist Systematic Strategies LLC lifted its stake in Gannett Co., Inc. (NYSE:GCI) by 36,203.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,935 shares of the company’s stock after purchasing an additional 259,219 shares during the quarter. Cubist Systematic Strategies LLC owned 0.18% of Gannett worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in GCI. Apollo Management Holdings L.P. boosted its stake in shares of Gannett by 6.1% during the 1st quarter. Apollo Management Holdings L.P. now owns 12,292,642 shares of the company’s stock valued at $29,994,000 after buying an additional 703,617 shares during the period. Dimensional Fund Advisors LP boosted its position in Gannett by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,979,617 shares of the company’s stock valued at $22,954,000 after purchasing an additional 229,539 shares during the last quarter. GSA Capital Partners LLP grew its stake in Gannett by 103.2% in the fourth quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company’s stock valued at $2,523,000 after purchasing an additional 557,079 shares in the last quarter. Renaissance Technologies LLC increased its position in Gannett by 16.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,072,024 shares of the company’s stock worth $4,942,000 after purchasing an additional 148,524 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Gannett by 8.2% during the 1st quarter. Empowered Funds LLC now owns 781,628 shares of the company’s stock worth $1,907,000 after purchasing an additional 59,243 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GCI. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price target for the company in a research note on Tuesday, September 17th. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research report on Friday, August 2nd.

Gannett Stock Performance

GCI opened at $5.54 on Thursday. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. The company has a market cap of $817.42 million, a PE ratio of -6.37 and a beta of 2.48. The stock has a 50-day moving average of $4.91 and a 200-day moving average of $4.00. Gannett Co., Inc. has a 52-week low of $1.66 and a 52-week high of $5.93.

Gannett (NYSE:GCI) last announced its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.25. Gannett had a negative return on equity of 17.12% and a negative net margin of 3.71%. The firm had revenue of $639.84 million during the quarter.

Gannett 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.