Gannett Co., Inc. (NYSE:GCI) Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Gannett Co., Inc. (NYSE:GCI) by 471.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 79,585 shares of the company’s stock after acquiring an additional 65,667 shares during the quarter. Principal Financial Group Inc.’s holdings in Gannett were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Troluce Capital Advisors LLC acquired a new stake in shares of Gannett during the second quarter worth $8,659,000. D. E. Shaw & Co. Inc. grew its position in shares of Gannett by 28.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,174,914 shares of the company’s stock valued at $23,856,000 after buying an additional 1,149,459 shares during the last quarter. Murchinson Ltd. acquired a new stake in Gannett during the second quarter worth about $2,536,000. Tenzing Global Management LLC bought a new position in Gannett in the third quarter worth about $1,686,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Gannett in the third quarter worth about $1,489,000. 76.71% of the stock is owned by institutional investors and hedge funds.

Gannett Stock Performance

Shares of NYSE GCI opened at $5.36 on Monday. The stock’s fifty day simple moving average is $5.22 and its 200 day simple moving average is $5.06. The stock has a market capitalization of $790.12 million, a price-to-earnings ratio of -6.62 and a beta of 2.55. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.88. Gannett Co., Inc. has a 52-week low of $1.95 and a 52-week high of $5.93.

Analyst Upgrades and Downgrades

Separately, Citigroup raised Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective for the company in a report on Tuesday, September 17th.

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.