Gannett (NYSE:GCI) Trading Up 5.3% – Still a Buy?

Gannett Co., Inc. (NYSE:GCI)’s stock price was up 5.3% on Monday . The company traded as high as $4.93 and last traded at $4.93. Approximately 70,364 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,238,886 shares. The stock had previously closed at $4.68.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GCI shares. Citigroup raised Gannett from a “sell” rating to a “neutral” rating and set a $5.10 target price on the stock in a report on Tuesday, September 17th. JMP Securities raised Gannett to a “strong-buy” rating in a research note on Friday, August 2nd.

Gannett Stock Performance

The firm has a fifty day moving average price of $5.27 and a 200 day moving average price of $4.54. The firm has a market capitalization of $732.63 million, a PE ratio of -6.14 and a beta of 2.51. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74.

Hedge Funds Weigh In On Gannett

Several institutional investors and hedge funds have recently bought and sold shares of GCI. Cambiar Investors LLC acquired a new position in shares of Gannett in the second quarter worth $49,000. nVerses Capital LLC acquired a new position in Gannett in the 3rd quarter worth about $55,000. Dark Forest Capital Management LP purchased a new stake in shares of Gannett during the 2nd quarter worth about $57,000. Sei Investments Co. acquired a new stake in shares of Gannett during the 2nd quarter valued at about $64,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Gannett during the 2nd quarter valued at about $76,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

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.