Shares of Gannett Co., Inc. (NYSE:GCI – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $5.81, but opened at $5.23. Gannett shares last traded at $5.21, with a volume of 245,681 shares traded.
Analyst Ratings Changes
A number of analysts recently commented on the company. JMP Securities upgraded Gannett to a “strong-buy” rating in a research report on Friday, August 2nd. 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.
Check Out Our Latest Stock Report on GCI
Gannett Price Performance
Gannett (NYSE:GCI – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $639.84 million during the quarter.
Hedge Funds Weigh In On Gannett
Several institutional investors and hedge funds have recently modified their holdings of GCI. Empowered Funds LLC grew its position in shares of Gannett by 8.2% in the 1st quarter. Empowered Funds LLC now owns 781,628 shares of the company’s stock valued at $1,907,000 after purchasing an additional 59,243 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Gannett in the 1st quarter valued at approximately $236,000. Price T Rowe Associates Inc. MD lifted its stake in Gannett by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock valued at $216,000 after acquiring an additional 7,732 shares in the last quarter. Apollo Management Holdings L.P. lifted its stake in Gannett by 6.1% in the 1st quarter. Apollo Management Holdings L.P. now owns 12,292,642 shares of the company’s stock valued at $29,994,000 after acquiring an additional 703,617 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Gannett in the 1st quarter valued at approximately $394,000. 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.
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