Gannett Co., Inc. (NYSE:GCI – Get Free Report) traded down 4.8% on Friday . The stock traded as low as $4.58 and last traded at $4.59. 534,835 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 1,000,709 shares. The stock had previously closed at $4.82.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on GCI. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $1.95 to $3.60 in a report on Friday, May 24th. JMP Securities began coverage on shares of Gannett in a research note on Monday. They issued an “outperform” rating and a $6.00 target price on the stock.
Read Our Latest Analysis on GCI
Gannett Trading Down 4.6 %
Gannett (NYSE:GCI – Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter. The company had revenue of $635.76 million for the quarter. Gannett had a negative net margin of 4.67% and a negative return on equity of 27.67%.
Hedge Funds Weigh In On Gannett
Several institutional investors have recently modified their holdings of GCI. Focus Financial Network Inc. ADV bought a new stake in Gannett in the fourth quarter worth $25,000. Simplicity Wealth LLC bought a new position in Gannett during the 1st quarter worth approximately $25,000. Tower Research Capital LLC TRC increased its stake in Gannett by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 29,008 shares of the company’s stock worth $67,000 after purchasing an additional 15,066 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Gannett in the fourth quarter valued at approximately $82,000. Finally, Quadrature Capital Ltd boosted its stake in shares of Gannett by 285.4% during the third quarter. Quadrature Capital Ltd now owns 62,654 shares of the company’s stock valued at $154,000 after purchasing an additional 46,396 shares during the period. 76.71% of the stock is currently owned by 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.
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