Gannett (NYSE:GCI) Trading 9.2% Higher

Gannett Co., Inc. (NYSE:GCI)’s share price shot up 9.2% during mid-day trading on Tuesday . The stock traded as high as $4.43 and last traded at $4.41. 715,395 shares changed hands during trading, a decline of 31% from the average session volume of 1,040,123 shares. The stock had previously closed at $4.04.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $1.95 to $3.60 in a research report on Friday, May 24th. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research note on Friday.

Gannett Stock Performance

The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 3.83. The firm has a market cap of $649.96 million, a P/E ratio of -5.01 and a beta of 2.50. The business has a fifty day simple moving average of $4.48 and a 200-day simple moving average of $3.20.

Gannett (NYSE:GCI) last announced its quarterly earnings data 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. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%. The business had revenue of $639.84 million for the quarter.

Hedge Funds Weigh In On Gannett

A number of hedge funds have recently added to or reduced their stakes in GCI. Apollo Management Holdings L.P. boosted its holdings in shares of Gannett by 34.8% during the 4th quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company’s stock valued at $26,655,000 after acquiring an additional 2,994,806 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Gannett by 103.2% in 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 last quarter. FourWorld Capital Management LLC bought a new stake in Gannett in the 1st quarter worth approximately $488,000. Kennedy Capital Management LLC purchased a new stake in Gannett during the 1st quarter valued at $394,000. Finally, Pingora Partners LLC bought a new position in shares of Gannett during the 4th quarter valued at $342,000. 76.71% of the stock is currently owned by hedge funds and other 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.