Gannett (NYSE:GCI) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Gannett Co., Inc. (NYSE:GCI) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.20 and traded as low as $4.86. Gannett shares last traded at $4.96, with a volume of 895,979 shares traded.

Analysts Set New Price Targets

Separately, Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and set a $5.10 target price for the company in a research report on Tuesday, September 17th.

Gannett Trading Up 4.0 %

The company has a market capitalization of $759.17 million, a P/E ratio of -6.36 and a beta of 2.55. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. The business’s 50-day moving average price is $5.19 and its two-hundred day moving average price is $5.09.

Hedge Funds Weigh In On Gannett

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtue Capital Management LLC lifted its stake in Gannett by 1.3% in the third quarter. Virtue Capital Management LLC now owns 174,793 shares of the company’s stock valued at $982,000 after buying an additional 2,258 shares in the last quarter. Rhumbline Advisers lifted its position in Gannett by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after acquiring an additional 3,333 shares in the last quarter. Aigen Investment Management LP lifted its position in Gannett by 22.5% in the 3rd quarter. Aigen Investment Management LP now owns 18,549 shares of the company’s stock valued at $104,000 after acquiring an additional 3,405 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its stake in Gannett by 0.8% in the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company’s stock worth $2,895,000 after purchasing an additional 4,200 shares during the period. Finally, Pingora Partners LLC increased its holdings in Gannett by 5.4% during the 3rd quarter. Pingora Partners LLC now owns 109,787 shares of the company’s stock worth $617,000 after purchasing an additional 5,600 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

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.