Gannett (NYSE:GCI) Sees Strong Trading Volume – Should You Buy?

Gannett Co., Inc. (NYSE:GCI) shares saw unusually-strong trading volume on Thursday . Approximately 2,400,008 shares changed hands during trading, an increase of 68% from the previous session’s volume of 1,427,146 shares.The stock last traded at $3.56 and had previously closed at $2.96.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market outperform” rating and issued a $6.00 price objective on shares of Gannett in a research note on Monday, January 27th.

Gannett Stock Up 20.1 %

The firm has a market capitalization of $523.90 million, a price-to-earnings ratio of -6.55 and a beta of 2.21. The business’s fifty day moving average price is $3.51 and its 200 day moving average price is $4.60. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59.

Gannett (NYSE:GCI) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The firm had revenue of $621.28 million for the quarter, compared to analyst estimates of $635.09 million.

Hedge Funds Weigh In On Gannett

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Gannett by 150.3% in the 3rd quarter. FMR LLC now owns 82,389 shares of the company’s stock valued at $463,000 after buying an additional 49,479 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Gannett during the 3rd quarter worth approximately $1,302,000. State Street Corp lifted its position 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 valued at $22,807,000 after acquiring an additional 116,716 shares in the last quarter. Barclays PLC increased its position in Gannett by 341.9% during the 3rd quarter. Barclays PLC now owns 218,056 shares of the company’s stock worth $1,224,000 after purchasing an additional 168,711 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Gannett by 471.8% in the 3rd quarter. Principal Financial Group Inc. now owns 79,585 shares of the company’s stock valued at $447,000 after purchasing an additional 65,667 shares during 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.