Tenzing Global Management LLC Invests $1.69 Million in Gannett Co., Inc. (NYSE:GCI)

Tenzing Global Management LLC bought a new stake in shares of Gannett Co., Inc. (NYSE:GCI) in the 3rd quarter, Holdings Channel.com reports. The firm bought 300,000 shares of the company’s stock, valued at approximately $1,686,000. Gannett makes up 1.2% of Tenzing Global Management LLC’s holdings, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GCI. Rhumbline Advisers lifted its position in shares of 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. Aigen Investment Management LP raised its stake in Gannett by 22.5% during the 3rd quarter. Aigen Investment Management LP now owns 18,549 shares of the company’s stock worth $104,000 after acquiring an additional 3,405 shares during the period. Silverberg Bernstein Capital Management LLC raised its stake in Gannett by 0.8% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company’s stock worth $2,895,000 after acquiring an additional 4,200 shares during the period. Pingora Partners LLC raised its stake in Gannett by 5.4% during the 3rd quarter. Pingora Partners LLC now owns 109,787 shares of the company’s stock worth $617,000 after acquiring an additional 5,600 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Gannett by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock worth $216,000 after acquiring an additional 7,732 shares during the period. 76.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Gannett Trading Down 4.5 %

Gannett stock opened at $5.21 on Friday. The stock has a market cap of $767.27 million, a P/E ratio of -6.43 and a beta of 2.55. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. Gannett Co., Inc. has a 1 year low of $1.86 and a 1 year high of $5.93. The firm’s 50 day moving average price is $5.36 and its 200-day moving average price is $4.86.

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.