Gannett (NYSE:GCI) Shares Gap Up to $4.55

Gannett Co., Inc. (NYSE:GCI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $4.55, but opened at $4.68. Gannett shares last traded at $4.66, with a volume of 132,475 shares.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GCI shares. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price target on the stock in a research note on Tuesday. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research note on Friday, August 2nd.

Gannett Trading Up 18.7 %

The business’s 50-day simple moving average is $4.77 and its two-hundred day simple moving average is $3.75. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $807.09 million, a PE ratio of -6.29 and a beta of 2.48.

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

Hedge Funds Weigh In On Gannett

A number of hedge funds and other institutional investors have recently bought and sold shares of GCI. Dynamic Technology Lab Private Ltd acquired a new stake in Gannett in the fourth quarter worth $82,000. Focus Financial Network Inc. ADV acquired a new position in Gannett during the 4th quarter valued at about $25,000. Pingora Partners LLC bought a new position in Gannett in the 4th quarter worth about $342,000. Apollo Management Holdings L.P. increased its stake in shares of Gannett by 34.8% in the fourth quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company’s stock valued at $26,655,000 after purchasing an additional 2,994,806 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of Gannett by 103.2% during the fourth quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company’s stock valued at $2,523,000 after buying an additional 557,079 shares during the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

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.