Gannett (NYSE:GCI) Shares Up 4.7% - Still a Buy?

Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s share price rose 4.7% during trading on Wednesday . The company traded as high as $5.61 and last traded at $5.59. Approximately 242,312 shares changed hands during trading, a decline of 80% from the average daily volume of 1,210,369 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

GCI has been the subject of a number of recent analyst reports. Citigroup upgraded Gannett from a "sell" rating to a "neutral" rating and set a $5.10 target price for the company in a report on Tuesday, September 17th. JMP Securities raised Gannett to a "strong-buy" rating in a research note on Friday, August 2nd.

Gannett Stock Performance

The company has a market capitalization of $816.68 million, a PE ratio of -6.36 and a beta of 2.49. The company has a 50 day moving average of $5.23 and a two-hundred day moving average of $4.35. The company has a debt-to-equity ratio of 3.83, a current ratio of 0.79 and a quick ratio of 0.75.

Gannett (NYSE:GCI - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $639.84 million for the quarter. Gannett had a negative return on equity of 17.12% and a negative net margin of 3.71%.

Institutional Investors Weigh In On Gannett

Institutional investors have recently modified their holdings of the stock. Cambiar Investors LLC purchased a new stake in shares of Gannett in the second quarter worth $49,000. nVerses Capital LLC purchased a new stake in shares of Gannett in the third quarter worth $55,000. Dark Forest Capital Management LP purchased a new stake in shares of Gannett in the second quarter worth $57,000. Sei Investments Co. purchased a new stake in shares of Gannett in the second quarter worth $64,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Gannett during the second quarter valued at $76,000. 76.71% of the stock is owned by hedge funds and other institutional investors.

Gannett Company Profile

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.