JMP Securities Reiterates “Market Outperform” Rating for Gannett (NYSE:GCI)

Gannett (NYSE:GCI)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock. JMP Securities’ price target would suggest a potential upside of 28.89% from the company’s previous close.

Gannett Stock Performance

NYSE GCI traded down $0.10 on Monday, hitting $4.66. 155,890 shares of the company traded hands, compared to its average volume of 938,945. The company has a market capitalization of $686.19 million, a price-to-earnings ratio of -5.75 and a beta of 2.55. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 3.88. The business’s 50 day moving average price is $5.13 and its 200-day moving average price is $5.10. Gannett has a 52-week low of $1.95 and a 52-week high of $5.93.

Hedge Funds Weigh In On Gannett

Several institutional investors and hedge funds have recently bought and sold shares of GCI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Gannett during the third quarter valued at about $1,302,000. Hanseatic Management Services Inc. raised its holdings in Gannett by 9,629.6% during the third quarter. Hanseatic Management Services Inc. now owns 178,928 shares of the company’s stock valued at $1,006,000 after acquiring an additional 177,089 shares during the period. State Street Corp raised its holdings in Gannett by 3.0% during the third quarter. State Street Corp now owns 4,058,266 shares of the company’s stock valued at $22,807,000 after acquiring an additional 116,716 shares during the period. Squarepoint Ops LLC raised its holdings in Gannett by 1,200.4% during the second quarter. Squarepoint Ops LLC now owns 254,545 shares of the company’s stock valued at $1,173,000 after acquiring an additional 234,971 shares during the period. Finally, Barclays PLC raised its holdings in Gannett by 341.9% during the third quarter. Barclays PLC now owns 218,056 shares of the company’s stock valued at $1,224,000 after acquiring an additional 168,711 shares during the period. 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.