Gannett Co., Inc. (NYSE:GCI – Get Free Report)’s stock price rose 4.7% during trading on Wednesday . The stock traded as high as $5.61 and last traded at $5.59. Approximately 242,312 shares changed hands during trading, a decline of 80% from the average daily volume of 1,210,369 shares. The stock had previously closed at $5.34.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on GCI. JMP Securities upgraded 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 for the company in a research note on Tuesday, September 17th.
Gannett Stock Performance
Gannett (NYSE:GCI – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping 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%.
Hedge Funds Weigh In On Gannett
A number of institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Gannett by 1.5% in the second quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after purchasing an additional 3,333 shares in the last quarter. Silverberg Bernstein Capital Management LLC lifted its position in shares of Gannett by 0.8% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company’s stock worth $2,895,000 after buying an additional 4,200 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gannett by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock valued at $216,000 after buying an additional 7,732 shares in the last quarter. Simplicity Wealth LLC grew its position in shares of Gannett by 77.9% in the 2nd quarter. Simplicity Wealth LLC now owns 18,166 shares of the company’s stock valued at $84,000 after buying an additional 7,952 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Gannett during the 3rd quarter worth $55,000. Institutional investors and hedge funds 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.
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