Gannett (NYSE:GCI) Reaches New 12-Month High at $4.30

Gannett Co., Inc. (NYSE:GCIGet Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $4.30 and last traded at $4.28, with a volume of 837578 shares traded. The stock had previously closed at $4.00.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and raised their price target for the stock from $1.95 to $3.60 in a research report on Friday, May 24th.

Read Our Latest Research Report on Gannett

Gannett Stock Performance

The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 4.16. The business has a 50 day simple moving average of $3.13 and a two-hundred day simple moving average of $2.56. The firm has a market cap of $649.96 million, a PE ratio of -5.06 and a beta of 2.43.

Gannett (NYSE:GCIGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.26) earnings per share 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 during the quarter.

Hedge Funds Weigh In On Gannett

Several institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd grew its stake in Gannett by 285.4% in 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 last quarter. Vanguard Group Inc. grew its stake in Gannett by 1.2% in the third quarter. Vanguard Group Inc. now owns 8,462,750 shares of the company’s stock valued at $20,734,000 after purchasing an additional 100,837 shares during the last quarter. Apollo Management Holdings L.P. grew its stake in Gannett by 14.4% in the third quarter. Apollo Management Holdings L.P. now owns 8,594,219 shares of the company’s stock valued at $21,056,000 after purchasing an additional 1,078,841 shares during the last quarter. EAM Investors LLC purchased a new position in Gannett in the third quarter valued at about $1,044,000. Finally, Aigen Investment Management LP purchased a new position in Gannett in the third quarter valued at about $69,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Gannett Company Profile

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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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