Traders Buy Large Volume of Gannett Call Options (NYSE:GCI)

Gannett Co., Inc. (NYSE:GCI) was the target of unusually large options trading activity on Wednesday. Investors bought 12,536 call options on the stock. This is an increase of approximately 1,617% compared to the typical daily volume of 730 call options.

Gannett Stock Performance

Gannett stock traded down $0.13 during midday trading on Wednesday, reaching $5.39. The stock had a trading volume of 223,166 shares, compared to its average volume of 1,215,458. The firm has a market capitalization of $794.55 million, a PE ratio of -6.81 and a beta of 2.55. Gannett has a 12 month low of $1.95 and a 12 month high of $5.93. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.88. The firm’s 50-day moving average price is $5.34 and its 200 day moving average price is $4.97.

Analysts Set New Price Targets

Separately, Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price target on the stock in a report on Tuesday, September 17th.

Institutional Trading of Gannett

A number of institutional investors have recently modified their holdings of GCI. Barclays PLC raised its stake in shares of Gannett by 341.9% during the 3rd quarter. Barclays PLC now owns 218,056 shares of the company’s stock valued at $1,224,000 after purchasing an additional 168,711 shares during the period. Virtue Capital Management LLC grew its holdings in Gannett by 1.3% during the 3rd quarter. Virtue Capital Management LLC now owns 174,793 shares of the company’s stock valued at $982,000 after buying an additional 2,258 shares in the last quarter. XTX Topco Ltd grew its holdings in Gannett by 42.4% during the 3rd quarter. XTX Topco Ltd now owns 94,913 shares of the company’s stock valued at $533,000 after buying an additional 28,271 shares in the last quarter. Tenzing Global Management LLC bought a new stake in shares of Gannett during the third quarter valued at about $1,686,000. Finally, State Street Corp lifted its holdings in shares of Gannett by 3.0% in the third quarter. State Street Corp now owns 4,058,266 shares of the company’s stock worth $22,807,000 after buying an additional 116,716 shares in the last quarter. 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.