Gannett (NYSE:GCI) Hits New 52-Week High at $5.26

Gannett Co., Inc. (NYSE:GCI)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.26 and last traded at $5.16, with a volume of 301091 shares traded. The stock had previously closed at $4.89.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JMP Securities upgraded Gannett to a “strong-buy” rating in a research report on Friday, August 2nd. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $1.95 to $3.60 in a report on Friday, May 24th.

Gannett Stock Up 0.9 %

The business has a fifty day moving average of $4.69 and a 200 day moving average of $3.47. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 3.83. The firm has a market cap of $852.83 million, a P/E ratio of -6.64 and a beta of 2.50.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.25. Gannett had a negative return on equity of 17.12% and a negative net margin of 3.71%. The company had revenue of $639.84 million during the quarter.

Hedge Funds Weigh In On Gannett

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP grew its stake in Gannett by 103.2% in the fourth quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company’s stock valued at $2,523,000 after acquiring an additional 557,079 shares during the period. Kennedy Capital Management LLC bought a new stake in Gannett during the 1st quarter worth approximately $394,000. Apollo Management Holdings L.P. raised its holdings in Gannett by 34.8% during the 4th quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company’s stock worth $26,655,000 after buying an additional 2,994,806 shares during the period. Mackenzie Financial Corp lifted its stake in Gannett by 5.5% in the fourth quarter. Mackenzie Financial Corp now owns 87,186 shares of the company’s stock valued at $201,000 after buying an additional 4,562 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Gannett in the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

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.