Gannett (NYSE:GCI) Upgraded at JMP Securities

JMP Securities upgraded shares of Gannett (NYSE:GCI) to a strong-buy rating in a research note published on Friday, Zacks.com reports.

Separately, Citigroup upgraded shares of Gannett from a sell rating to a neutral rating and raised their price target for the company from $1.95 to $3.60 in a research note on Friday, May 24th.

Gannett Price Performance

NYSE GCI traded up $0.37 on Friday, hitting $4.41. 1,888,815 shares of the company’s stock were exchanged, compared to its average volume of 1,047,945. Gannett has a 52 week low of $1.66 and a 52 week high of $5.05. The stock has a 50-day moving average of $4.48 and a 200-day moving average of $3.20. 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 $649.96 million, a price-to-earnings ratio of -5.01 and a beta of 2.50.

Gannett (NYSE:GCI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping 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

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Gannett by 1.5% during the second quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after purchasing an additional 3,333 shares in the last quarter. 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 worth $201,000 after acquiring an additional 4,562 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 during the period. Simplicity Wealth LLC raised its stake in shares of Gannett by 77.9% during the second quarter. Simplicity Wealth LLC now owns 18,166 shares of the company’s stock valued at $84,000 after acquiring an additional 7,952 shares during the last quarter. Finally, Cambiar Investors LLC acquired a new position in shares of Gannett during the second quarter worth $49,000. Institutional investors and hedge funds 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.