Gannett (NYSE:GCI) Shares Down 4.7% – What’s Next?

Gannett Co., Inc. (NYSE:GCI) shares were down 4.7% on Thursday . The company traded as low as $5.42 and last traded at $5.44. Approximately 305,901 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,216,459 shares. The stock had previously closed at $5.71.

Wall Street Analyst Weigh In

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

Gannett Stock Performance

The firm has a market capitalization of $795.56 million, a price-to-earnings ratio of -7.81 and a beta of 2.49. The stock’s fifty day moving average is $5.04 and its two-hundred day moving average is $4.16. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 3.83.

Gannett (NYSE:GCI) last issued its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.25. The business had revenue of $639.84 million for the quarter. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%.

Hedge Funds Weigh In On Gannett

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCI. GSA Capital Partners LLP boosted its position in Gannett by 103.2% during the fourth quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company’s stock worth $2,523,000 after purchasing an additional 557,079 shares during the period. Silverberg Bernstein Capital Management LLC boosted its position in shares of Gannett by 22.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 496,761 shares of the company’s stock valued at $1,212,000 after acquiring an additional 90,521 shares during the period. Empowered Funds LLC boosted its position in shares of Gannett by 8.2% in the first quarter. Empowered Funds LLC now owns 781,628 shares of the company’s stock valued at $1,907,000 after acquiring an additional 59,243 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Gannett in the first quarter valued at about $236,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Gannett by 9.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock valued at $216,000 after acquiring an additional 7,732 shares during the period. 76.71% of the stock is owned by institutional investors.

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.