JMP Securities Reiterates “Market Outperform” Rating for Gannett (NYSE:GCI)

JMP Securities reaffirmed their market outperform rating on shares of Gannett (NYSE:GCI) in a research report released on Monday morning,Benzinga reports. They currently have a $6.00 target price on the stock.

Gannett Price Performance

Shares of GCI opened at $4.58 on Monday. The firm has a market capitalization of $675.29 million, a PE ratio of -5.66 and a beta of 2.55. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. The company’s 50-day moving average is $5.11 and its 200-day moving average is $5.09. Gannett has a fifty-two week low of $1.95 and a fifty-two week high of $5.93.

Hedge Funds Weigh In On Gannett

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tenzing Global Management LLC acquired a new stake in Gannett during the 3rd quarter worth approximately $1,686,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Gannett during the third quarter worth $1,489,000. Cubist Systematic Strategies LLC boosted its position in shares of Gannett by 36,203.8% in the second quarter. Cubist Systematic Strategies LLC now owns 259,935 shares of the company’s stock valued at $1,198,000 after acquiring an additional 259,219 shares during the period. Squarepoint Ops LLC grew its stake in shares of Gannett by 1,200.4% in the second quarter. Squarepoint Ops LLC now owns 254,545 shares of the company’s stock valued at $1,173,000 after acquiring an additional 234,971 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Gannett during the third quarter worth about $1,302,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

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.