State Street Corp Purchases 116,716 Shares of Gannett Co., Inc. (NYSE:GCI)

State Street Corp boosted its holdings in Gannett Co., Inc. (NYSE:GCI) by 3.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,058,266 shares of the company’s stock after purchasing an additional 116,716 shares during the quarter. State Street Corp’s holdings in Gannett were worth $22,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GCI. Bank of New York Mellon Corp boosted its stake in shares of Gannett by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 740,115 shares of the company’s stock worth $3,412,000 after acquiring an additional 40,481 shares during the period. Bailard Inc. purchased a new position in Gannett in the 2nd quarter worth approximately $260,000. Cambiar Investors LLC bought a new position in Gannett in the 2nd quarter worth approximately $49,000. Rhumbline Advisers grew its holdings in Gannett by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after buying an additional 3,333 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Gannett by 22.2% during the second quarter. American Century Companies Inc. now owns 186,964 shares of the company’s stock valued at $862,000 after buying an additional 33,948 shares during the last quarter. 76.71% of the stock is owned by institutional investors.

Gannett Price Performance

Shares of Gannett stock opened at $5.09 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 3.88. Gannett Co., Inc. has a 12 month low of $1.95 and a 12 month high of $5.93. The stock has a 50 day moving average of $5.31 and a 200 day moving average of $5.00. The firm has a market cap of $750.32 million, a PE ratio of -6.28 and a beta of 2.55.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price target on the stock in a report on Tuesday, September 17th.

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.