Gannett (NYSE:GCI) Sees Unusually-High Trading Volume

Gannett Co., Inc. (NYSE:GCI) shares saw strong trading volume on Tuesday . 250,796 shares changed hands during trading, a decline of 75% from the previous session’s volume of 1,001,443 shares.The stock last traded at $4.54 and had previously closed at $4.55.

Analysts Set New Price Targets

A number of analysts recently commented on GCI shares. JMP Securities initiated coverage on Gannett in a research report on Monday, July 1st. They set an “outperform” rating and a $6.00 price objective for the company. Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $1.95 to $3.60 in a report on Friday, May 24th.

Gannett Stock Performance

The firm has a 50-day moving average of $3.91 and a two-hundred day moving average of $2.88. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.79 and a quick ratio of 0.75.

Gannett (NYSE:GCI) last posted its earnings results on Thursday, May 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter. Gannett had a negative return on equity of 27.67% and a negative net margin of 4.67%. The business had revenue of $635.76 million for the quarter.

Institutional Trading of Gannett

A number of institutional investors have recently added to or reduced their stakes in GCI. GSA Capital Partners LLP boosted its position in shares of Gannett by 103.2% in the fourth quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company’s stock worth $2,523,000 after buying an additional 557,079 shares during the period. Quadrature Capital Ltd raised its stake in shares of Gannett by 285.4% during the third quarter. Quadrature Capital Ltd now owns 62,654 shares of the company’s stock valued at $154,000 after purchasing an additional 46,396 shares during the period. Vanguard Group Inc. lifted its position in shares of Gannett by 1.2% during the third quarter. Vanguard Group Inc. now owns 8,462,750 shares of the company’s stock worth $20,734,000 after purchasing an additional 100,837 shares in the last quarter. Apollo Management Holdings L.P. boosted its stake in shares of Gannett by 34.8% in the fourth quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company’s stock valued at $26,655,000 after purchasing an additional 2,994,806 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Gannett by 5.5% during the 4th quarter. Mackenzie Financial Corp now owns 87,186 shares of the company’s stock valued at $201,000 after purchasing an additional 4,562 shares in the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

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.