Hanseatic Management Services Inc. Grows Position in Gannett Co., Inc. (NYSE:GCI)

Hanseatic Management Services Inc. increased its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 9,629.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 178,928 shares of the company’s stock after acquiring an additional 177,089 shares during the quarter. Gannett comprises about 1.4% of Hanseatic Management Services Inc.’s portfolio, making the stock its 23rd largest holding. Hanseatic Management Services Inc. owned approximately 0.12% of Gannett worth $1,006,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Cambiar Investors LLC bought a new position in shares of Gannett during the 2nd quarter valued at about $49,000. nVerses Capital LLC bought a new position in shares of Gannett during the 3rd quarter valued at approximately $55,000. Dark Forest Capital Management LP bought a new stake in Gannett in the second quarter worth $57,000. Sei Investments Co. purchased a new stake in Gannett during the second quarter valued at $64,000. Finally, Point72 Asset Management L.P. bought a new position in Gannett during the second quarter valued at $76,000. 76.71% of the stock is owned by hedge funds and other institutional investors.

Gannett Trading Up 6.4 %

GCI opened at $5.29 on Thursday. Gannett Co., Inc. has a 52 week low of $1.80 and a 52 week high of $5.93. The company has a market capitalization of $779.80 million, a P/E ratio of -6.53 and a beta of 2.51. The stock’s fifty day moving average is $5.27 and its two-hundred day moving average is $4.55. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.88.

Analyst Upgrades and Downgrades

GCI has been the subject of several recent analyst reports. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research note on Friday, August 2nd. Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective for the company in a research note on Tuesday, September 17th.

Gannett 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.