Gannett (NYSE:GCI) Stock Price Down 8.1%

Shares of Gannett Co., Inc. (NYSE:GCI) fell 8.1% during mid-day trading on Thursday . The company traded as low as $4.20 and last traded at $4.51. 817,435 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 1,018,776 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GCI. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and upped their target price for the company from $1.95 to $3.60 in a research note on Friday, May 24th. JMP Securities began coverage on Gannett in a research note on Monday, July 1st. They issued an “outperform” rating and a $6.00 target price on the stock.

Gannett Trading Down 5.3 %

The business has a 50 day moving average of $4.48 and a 200-day moving average of $3.18. 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 stock has a market cap of $631.51 million, a PE ratio of -4.92 and a beta of 2.50.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter. The company 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%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GCI. Vanguard Group Inc. raised its holdings in Gannett by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,462,750 shares of the company’s stock valued at $20,734,000 after acquiring an additional 100,837 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Gannett by 5.5% in the 4th quarter. Mackenzie Financial Corp now owns 87,186 shares of the company’s stock valued at $201,000 after acquiring an additional 4,562 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gannett during the 4th quarter worth $82,000. Focus Financial Network Inc. ADV acquired a new stake in shares of Gannett during the 4th quarter worth $25,000. Finally, Pingora Partners LLC acquired a new stake in shares of Gannett during the 4th quarter worth $342,000. 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.