JMP Securities began coverage on shares of Gannett (NYSE:GCI – Free Report) in a research note released on Monday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $6.00 target price on the stock.
Separately, Citigroup upgraded Gannett from a sell rating to a neutral rating and raised their target price for the company from $1.95 to $3.60 in a research note on Friday, May 24th.
Gannett Price Performance
Gannett (NYSE:GCI – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter. The company had revenue of $635.76 million for the quarter. Gannett had a negative return on equity of 27.67% and a negative net margin of 4.67%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Focus Financial Network Inc. ADV purchased a new position in shares of Gannett in the fourth quarter worth $25,000. Simplicity Wealth LLC purchased a new position in shares of Gannett in the first quarter valued at about $25,000. Tower Research Capital LLC TRC lifted its position in shares of Gannett by 108.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 29,008 shares of the company’s stock valued at $67,000 after acquiring an additional 15,066 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gannett in the fourth quarter worth about $82,000. Finally, Quadrature Capital Ltd lifted its position in shares of Gannett by 285.4% in the third quarter. Quadrature Capital Ltd now owns 62,654 shares of the company’s stock worth $154,000 after buying an additional 46,396 shares in the last quarter. Hedge funds and other institutional investors 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.
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