Gannett (NYSE:GCI) Shares Up 4.7% – Here’s What Happened

Gannett Co., Inc. (NYSE:GCI)’s stock price shot up 4.7% during trading on Wednesday . The company traded as high as $5.61 and last traded at $5.59. 242,312 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,210,369 shares. The stock had previously closed at $5.34.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GCI. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research report on Friday, August 2nd. 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 research report on Tuesday, September 17th.

Gannett Stock Performance

The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. The stock’s 50 day simple moving average is $5.24 and its two-hundred day simple moving average is $4.36.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in shares of Gannett during the third quarter valued at $55,000. Creative Planning raised its holdings in shares of Gannett by 22.8% in the third quarter. Creative Planning now owns 79,687 shares of the company’s stock valued at $448,000 after buying an additional 14,817 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Gannett in the third quarter valued at about $487,000. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Gannett by 0.8% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company’s stock valued at $2,895,000 after buying an additional 4,200 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Gannett in the second quarter valued at about $76,000. 76.71% of the stock is owned by institutional investors.

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.