Hanseatic Management Services Inc. Acquires 177,089 Shares of Gannett Co., Inc. (NYSE:GCI)

Hanseatic Management Services Inc. increased its holdings in Gannett Co., Inc. (NYSE:GCI) by 9,629.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178,928 shares of the company’s stock after buying an additional 177,089 shares during the period. Gannett comprises approximately 1.4% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 23rd biggest holding. Hanseatic Management Services Inc.’s holdings in Gannett were worth $1,006,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cambiar Investors LLC bought a new position in shares of Gannett in the 2nd quarter worth $49,000. nVerses Capital LLC purchased a new stake in shares of Gannett during the third quarter valued at about $55,000. Dark Forest Capital Management LP bought a new stake in shares of Gannett in the 2nd quarter valued at about $57,000. Sei Investments Co. bought a new stake in shares of Gannett in the 2nd quarter valued at about $64,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Gannett in the 2nd quarter worth approximately $76,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 target price for the company in a research report on Tuesday, September 17th. JMP Securities upgraded Gannett to a “strong-buy” rating in a report on Friday, August 2nd.

Gannett Stock Up 6.4 %

Shares of GCI stock opened at $5.29 on Thursday. 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 twelve month low of $1.80 and a twelve month high of $5.93. The stock has a 50 day moving average of $5.27 and a 200 day moving average of $4.55. The stock has a market cap of $779.80 million, a P/E ratio of -6.53 and a beta of 2.51.

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.