Paloma Partners Management Co reduced its holdings in Gannett Co., Inc. (NYSE:GCI) by 80.7% during the 4th quarter, Holdings Channel reports. The firm owned 22,360 shares of the company’s stock after selling 93,488 shares during the quarter. Paloma Partners Management Co’s holdings in Gannett were worth $75,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Cobalt Capital Management Inc. acquired a new stake in Gannett in the fourth quarter valued at approximately $634,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Gannett by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,072,550 shares of the company’s stock worth $10,324,000 after acquiring an additional 28,124 shares during the last quarter. Vantage Consulting Group Inc acquired a new stake in shares of Gannett in the fourth quarter worth approximately $40,000. Financial Advocates Investment Management acquired a new stake in shares of Gannett in the fourth quarter worth approximately $43,000. Finally, Credit Suisse AG boosted its stake in shares of Gannett by 198.1% in the fourth quarter. Credit Suisse AG now owns 47,039 shares of the company’s stock worth $158,000 after acquiring an additional 31,258 shares during the last quarter. 57.25% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on GCI. Citigroup reaffirmed a “sell” rating on shares of Gannett in a research note on Tuesday, March 9th. Zacks Investment Research lowered Gannett from a “hold” rating to a “sell” rating in a research note on Monday, January 4th.
Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through two segments, Publishing and Digital Marketing Solutions. The company's principal products include 253 daily newspapers with total paid circulation of approximately 2.6 million and Sunday circulation of 3.0 million; 308 weekly newspapers with total circulation of approximately 1.6 million; and 375 locally-focused Websites.
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