Gannett Co., Inc. (NYSE:GCI) CEO Michael Reed Acquires 27,000 Shares

Gannett Co., Inc. (NYSE:GCI) CEO Michael Reed bought 27,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $3.25 per share, for a total transaction of $87,750.00. Following the purchase, the chief executive officer now owns 3,134,722 shares of the company’s stock, valued at approximately $10,187,846.50. The trade was a 0.87 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Gannett Stock Performance

Shares of GCI stock opened at $3.32 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59. The company has a market cap of $486.17 million, a PE ratio of -6.15 and a beta of 2.67. Gannett Co., Inc. has a 12-month low of $2.55 and a 12-month high of $5.93. The business’s fifty day simple moving average is $3.17 and its 200-day simple moving average is $4.38.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $571.57 million for the quarter, compared to analyst estimates of $592.97 million. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Gannett

Large investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Gannett in the first quarter worth about $67,000. OneDigital Investment Advisors LLC grew its position in shares of Gannett by 6.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 84,426 shares of the company’s stock valued at $244,000 after acquiring an additional 5,048 shares during the period. Principal Financial Group Inc. increased its stake in shares of Gannett by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 89,419 shares of the company’s stock valued at $258,000 after purchasing an additional 3,074 shares in the last quarter. SG Americas Securities LLC boosted its position in Gannett by 10,205.0% during the first quarter. SG Americas Securities LLC now owns 2,198,271 shares of the company’s stock worth $6,353,000 after purchasing an additional 2,176,939 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC grew its stake in Gannett by 5.2% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 535,866 shares of the company’s stock valued at $1,549,000 after acquiring an additional 26,433 shares during the period. 76.71% of the stock is owned by hedge funds and other 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.