Gannett (NYSE:GCI) Shares Down 3.3%


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Gannett Co., Inc. (NYSE:GCI)’s stock price dropped 3.3% on Thursday . The stock traded as low as $4.96 and last traded at $4.96. Approximately 5,506 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 1,953,685 shares. The stock had previously closed at $5.13.

Several research firms have recently commented on GCI. Zacks Investment Research lowered Gannett from a “buy” rating to a “hold” rating in a report on Friday. Citigroup reiterated a “sell” rating on shares of Gannett in a report on Tuesday, March 9th.

The stock has a market capitalization of $675.71 million, a PE ratio of -0.93 and a beta of 2.91. The firm’s fifty day moving average is $5.38 and its 200-day moving average is $3.55. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 3.80.

Gannett (NYSE:GCI) last issued its quarterly earnings data on Thursday, February 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.22. The firm had revenue of $875.45 million for the quarter. Gannett had a negative net margin of 19.92% and a negative return on equity of 4.79%. As a group, equities analysts predict that Gannett Co., Inc. will post -1.2 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its position in Gannett by 68.3% in the 3rd quarter. Morgan Stanley now owns 836,261 shares of the company’s stock valued at $1,088,000 after acquiring an additional 339,470 shares in the last quarter. Guggenheim Capital LLC grew its position in Gannett by 109.4% in the 3rd quarter. Guggenheim Capital LLC now owns 48,016 shares of the company’s stock valued at $62,000 after acquiring an additional 25,084 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Gannett by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,044,426 shares of the company’s stock valued at $3,958,000 after acquiring an additional 275,840 shares in the last quarter. Eudaimonia Partners LLC acquired a new position in Gannett in the 3rd quarter valued at about $87,000. Finally, SG Americas Securities LLC acquired a new position in Gannett in the 4th quarter valued at about $255,000. 57.25% of the stock is owned by institutional investors.

About Gannett (NYSE:GCI)

Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through two segments, Publishing and Digital Marketing Solutions. The company's principal products include 253 daily newspapers with total paid circulation of approximately 2.6 million and Sunday circulation of 3.0 million; 308 weekly newspapers with total circulation of approximately 1.6 million; and 375 locally-focused Websites.

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