Traders Purchase High Volume of Gannett Call Options (NYSE:GCI)

Gannett Co., Inc. (NYSE:GCI - Get Free Report) saw unusually large options trading on Wednesday. Investors bought 12,536 call options on the company. This is an increase of 1,617% compared to the average volume of 730 call options.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded Gannett from a "sell" rating to a "neutral" rating and set a $5.10 price target for the company in a research report on Tuesday, September 17th.

Institutional Trading of Gannett

Institutional investors have recently made changes to their positions in the business. Virtue Capital Management LLC increased its holdings in shares of Gannett by 1.3% in the third quarter. Virtue Capital Management LLC now owns 174,793 shares of the company's stock worth $982,000 after purchasing an additional 2,258 shares during the last quarter. Rhumbline Advisers increased its stake in Gannett by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 231,252 shares of the company's stock worth $1,066,000 after acquiring an additional 3,333 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of Gannett by 22.5% during the 3rd quarter. Aigen Investment Management LP now owns 18,549 shares of the company's stock worth $104,000 after acquiring an additional 3,405 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its position in shares of Gannett by 0.8% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company's stock valued at $2,895,000 after acquiring an additional 4,200 shares during the last quarter. Finally, Pingora Partners LLC increased its position in Gannett by 5.4% in the third quarter. Pingora Partners LLC now owns 109,787 shares of the company's stock worth $617,000 after purchasing an additional 5,600 shares during the last quarter. Hedge funds and other institutional investors own 76.71% of the company's stock.

Gannett Price Performance

Shares of GCI stock traded down $0.50 on Wednesday, hitting $5.02. 1,562,550 shares of the stock traded hands, compared to its average volume of 1,221,081. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. Gannett has a 52 week low of $1.95 and a 52 week high of $5.93. The firm has a 50 day simple moving average of $5.33 and a two-hundred day simple moving average of $4.98. The firm has a market cap of $740.00 million, a price-to-earnings ratio of -6.20 and a beta of 2.55.

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.