AXQ Capital LP Buys New Shares in Gannett Co., Inc. (NYSE:GCI)

AXQ Capital LP purchased a new position in shares of Gannett Co., Inc. (NYSE:GCI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 14,939 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Gannett during the 3rd quarter valued at about $45,000. Quantbot Technologies LP purchased a new stake in Gannett in the fourth quarter worth $51,000. Ieq Capital LLC bought a new position in shares of Gannett in the 4th quarter worth about $54,000. Xponance Inc. purchased a new stake in shares of Gannett in the 4th quarter worth approximately $56,000. Finally, PEAK6 Investments LLC bought a new stake in Gannett during the 3rd quarter valued at about $57,000. 76.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Gannett Stock Up 3.1 %

Shares of GCI stock opened at $3.16 on Tuesday. The stock has a market cap of $464.95 million, a P/E ratio of -5.84 and a beta of 2.48. The company’s fifty day simple moving average is $4.20 and its two-hundred day simple moving average is $4.88. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59. Gannett Co., Inc. has a 52 week low of $2.21 and a 52 week high of $5.93.

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

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.