Principal Financial Group Inc. Purchases 6,760 Shares of Gannett Co., Inc. (NYSE:GCI)

Principal Financial Group Inc. grew its position in shares of Gannett Co., Inc. (NYSE:GCI) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,345 shares of the company’s stock after buying an additional 6,760 shares during the quarter. Principal Financial Group Inc.’s holdings in Gannett were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Gannett during the third quarter worth $1,302,000. Hanseatic Management Services Inc. raised its stake in shares of Gannett by 9,629.6% in the third quarter. Hanseatic Management Services Inc. now owns 178,928 shares of the company’s stock worth $1,006,000 after acquiring an additional 177,089 shares during the last quarter. State Street Corp lifted its position in shares of Gannett by 3.0% during the third quarter. State Street Corp now owns 4,058,266 shares of the company’s stock worth $22,807,000 after purchasing an additional 116,716 shares in the last quarter. Barclays PLC grew its stake in shares of Gannett by 341.9% during the third quarter. Barclays PLC now owns 218,056 shares of the company’s stock valued at $1,224,000 after purchasing an additional 168,711 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in Gannett by 11.9% in the 4th quarter. Ritholtz Wealth Management now owns 97,067 shares of the company’s stock worth $491,000 after purchasing an additional 10,332 shares during the last quarter. Institutional investors and hedge funds own 76.71% of the company’s stock.

Gannett Stock Down 4.2 %

Shares of NYSE GCI opened at $3.55 on Friday. The firm’s 50-day moving average is $4.70 and its 200-day moving average is $5.06. Gannett Co., Inc. has a 1 year low of $1.97 and a 1 year high of $5.93. The firm has a market capitalization of $522.42 million, a PE ratio of -6.56 and a beta of 2.53. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59.

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

Wall Street Analyst Weigh In

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

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.