Gannett (NYSE:GCI) Stock Price Up 4.7% – Here’s Why

Gannett Co., Inc. (NYSE:GCI)’s share price rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $5.61 and last traded at $5.59. Approximately 242,312 shares were traded during trading, a decline of 80% from the average daily volume of 1,210,369 shares. The stock had previously closed at $5.34.

Wall Street Analyst Weigh In

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

Gannett Price Performance

The company has a market cap of $807.09 million, a price-to-earnings ratio of -6.14 and a beta of 2.49. The company’s 50 day moving average price is $5.20 and its 200 day moving average price is $4.34. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83.

Gannett (NYSE:GCI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.25. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%. The firm had revenue of $639.84 million during the quarter.

Institutional Trading of Gannett

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

About Gannett

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.