Principal Financial Group Inc. Has $447,000 Stock Holdings in Gannett Co., Inc. (NYSE:GCI)

Principal Financial Group Inc. grew its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 471.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,585 shares of the company’s stock after buying 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 SEC filing.

Several other institutional investors also recently modified their holdings of GCI. Cambiar Investors LLC acquired a new stake in Gannett during the 2nd quarter worth approximately $49,000. nVerses Capital LLC bought a new position in shares of Gannett during the third quarter valued at $55,000. Dark Forest Capital Management LP acquired a new position in shares of Gannett during the second quarter worth $57,000. Sei Investments Co. bought a new stake in shares of Gannett in the second quarter worth $64,000. Finally, Point72 Asset Management L.P. acquired a new stake in Gannett in the second quarter valued at $76,000. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Gannett Price Performance

Shares of NYSE GCI opened at $5.38 on Monday. The firm has a market capitalization of $793.07 million, a P/E ratio of -6.64 and a beta of 2.51. The firm’s 50-day moving average price is $5.38 and its 200-day moving average price is $4.77. 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 1-year low of $1.83 and a 1-year high of $5.93.

Wall Street Analysts Forecast Growth

GCI has been the topic of several recent analyst reports. 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 report on Tuesday, September 17th. JMP Securities upgraded Gannett to a “strong-buy” rating in a research report on Friday, August 2nd.

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.