Gannett Co., Inc. (NYSE:GCI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Gannett Co., Inc. (NYSE:GCI) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 425,304 shares of the company’s stock after selling 6,904 shares during the quarter. Bank of New York Mellon Corp’s holdings in Gannett were worth $1,229,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Gannett by 10,205.0% during the first quarter. SG Americas Securities LLC now owns 2,198,271 shares of the company’s stock valued at $6,353,000 after purchasing an additional 2,176,939 shares in the last quarter. Miller Value Partners LLC raised its stake in shares of Gannett by 74.8% during the fourth quarter. Miller Value Partners LLC now owns 2,396,625 shares of the company’s stock valued at $12,127,000 after purchasing an additional 1,025,190 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Gannett by 68.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,431,937 shares of the company’s stock valued at $12,306,000 after purchasing an additional 988,990 shares in the last quarter. Portolan Capital Management LLC bought a new stake in shares of Gannett during the fourth quarter valued at about $2,889,000. Finally, ExodusPoint Capital Management LP raised its stake in shares of Gannett by 1,166.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 370,875 shares of the company’s stock valued at $1,877,000 after purchasing an additional 341,598 shares in the last quarter. Institutional investors and hedge funds own 76.71% of the company’s stock.

Gannett Price Performance

Shares of NYSE GCI opened at $3.66 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 6.28. The firm’s 50-day simple moving average is $3.58 and its 200 day simple moving average is $3.70. Gannett Co., Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $5.93. The stock has a market cap of $535.97 million, a P/E ratio of 366.00 and a beta of 2.60.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Gannett had a return on equity of 24.41% and a net margin of 2.09%. The business had revenue of $571.57 million during the quarter, compared to the consensus estimate of $592.97 million.

Insider Buying and Selling

In other Gannett news, CEO Michael Reed purchased 27,000 shares of the company’s stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $3.25 per share, for a total transaction of $87,750.00. Following the completion of the transaction, the chief executive officer owned 3,134,722 shares in the company, valued at $10,187,846.50. The trade was a 0.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.20% of the company’s stock.

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.