Gannett (NYSE:GCI) Trading 5.5% Higher – Time to Buy?

Gannett Co., Inc. (NYSE:GCI)’s stock price shot up 5.5% during trading on Tuesday . The company traded as high as $5.76 and last traded at $5.72. 714,403 shares were traded during trading, a decline of 41% from the average session volume of 1,218,848 shares. The stock had previously closed at $5.42.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GCI. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective on the stock in a research note on Tuesday, September 17th. JMP Securities raised shares of Gannett to a “strong-buy” rating in a research note on Friday, August 2nd.

Gannett Stock Performance

The company’s fifty day moving average price is $5.12 and its two-hundred day moving average price is $4.24. The firm has a market capitalization of $808.56 million, a PE ratio of -6.30 and a beta of 2.49. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.25. The company 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

Hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in Gannett during the third quarter worth approximately $55,000. Creative Planning boosted its position in Gannett by 22.8% during the 3rd quarter. Creative Planning now owns 79,687 shares of the company’s stock worth $448,000 after purchasing an additional 14,817 shares during the period. Ritholtz Wealth Management acquired a new stake in Gannett in the 3rd quarter valued at $487,000. Silverberg Bernstein Capital Management LLC raised its position in 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 purchasing an additional 4,200 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Gannett during the second quarter worth about $76,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

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.