Gannett Co., Inc. $GCI Shares Purchased by Two Seas Capital LP

Two Seas Capital LP lifted its position in Gannett Co., Inc. (NYSE:GCI) by 79.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,230,621 shares of the company’s stock after acquiring an additional 4,978,515 shares during the quarter. Gannett accounts for approximately 0.7% of Two Seas Capital LP’s holdings, making the stock its 11th largest position. Two Seas Capital LP owned 7.66% of Gannett worth $40,206,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GCI. Vanguard Group Inc. raised its holdings in shares of Gannett by 1.1% during the first quarter. Vanguard Group Inc. now owns 8,184,594 shares of the company’s stock worth $23,653,000 after purchasing an additional 91,332 shares during the period. Philosophy Capital Management LLC raised its stake in Gannett by 9.9% during the first quarter. Philosophy Capital Management LLC now owns 5,885,461 shares of the company’s stock worth $17,009,000 after acquiring an additional 528,970 shares during the period. Cooperman Leon G raised its stake in Gannett by 6.0% during the first quarter. Cooperman Leon G now owns 5,097,200 shares of the company’s stock worth $14,731,000 after acquiring an additional 289,867 shares during the period. Nuveen LLC acquired a new position in Gannett in the first quarter valued at approximately $6,434,000. Finally, Bridgeway Capital Management LLC boosted its stake in Gannett by 1.1% in the first quarter. Bridgeway Capital Management LLC now owns 1,749,625 shares of the company’s stock valued at $5,056,000 after acquiring an additional 18,933 shares during the period. 76.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded Gannett from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Gannett in a research report on Thursday, November 13th. Finally, Citigroup increased their price objective on shares of Gannett from $4.30 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.55.

Gannett Trading Down 1.9%

NYSE:GCI opened at $4.55 on Thursday. The stock has a market cap of $669.35 million, a price-to-earnings ratio of 21.67 and a beta of 2.55. The company has a debt-to-equity ratio of 4.66, a quick ratio of 0.67 and a current ratio of 0.69. Gannett Co., Inc. has a 1 year low of $2.55 and a 1 year high of $5.69. The business has a fifty day moving average of $4.34 and a 200-day moving average of $4.01.

Gannett (NYSE:GCI) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The company had revenue of $560.80 million during the quarter, compared to analyst estimates of $575.58 million. Gannett had a return on equity of 42.98% and a net margin of 4.11%.

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.