Gannett (NYSE:GCI) Upgraded at Citigroup

Citigroup upgraded shares of Gannett (NYSE:GCI) from a sell rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat.com reports. They currently have $5.10 price objective on the stock.

Separately, JMP Securities raised shares of Gannett to a strong-buy rating in a research note on Friday, August 2nd.

Gannett Stock Performance

GCI stock opened at $5.61 on Tuesday. Gannett has a 12-month low of $1.66 and a 12-month high of $5.93. The business’s 50-day moving average is $4.81 and its 200 day moving average is $3.78. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. The stock has a market cap of $827.74 million, a price-to-earnings ratio of -6.45 and a beta of 2.48.

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

Institutional Trading of Gannett

Several large investors have recently added to or reduced their stakes in the stock. Apollo Management Holdings L.P. raised its holdings in shares of Gannett by 6.1% during the 1st quarter. Apollo Management Holdings L.P. now owns 12,292,642 shares of the company’s stock worth $29,994,000 after acquiring an additional 703,617 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Gannett by 28.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 5,174,914 shares of the company’s stock worth $23,856,000 after purchasing an additional 1,149,459 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Gannett by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,979,617 shares of the company’s stock valued at $22,954,000 after purchasing an additional 229,539 shares during the last quarter. Troluce Capital Advisors LLC purchased a new stake in shares of Gannett in the 2nd quarter valued at approximately $8,659,000. Finally, Millennium Management LLC increased its holdings in shares of Gannett by 18.9% during the 2nd quarter. Millennium Management LLC now owns 1,118,284 shares of the company’s stock worth $5,155,000 after buying an additional 177,446 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.