Gannett (NYSE:GCI) Stock Price Up 5.3% - Here's Why

Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s stock price shot up 5.3% on Monday . The company traded as high as $4.93 and last traded at $4.93. 70,364 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,238,886 shares. The stock had previously closed at $4.68.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GCI. Citigroup raised shares of Gannett from a "sell" rating to a "neutral" rating and set a $5.10 price objective for the company in a research report on Tuesday, September 17th. JMP Securities upgraded shares of Gannett to a "strong-buy" rating in a research note on Friday, August 2nd.

Gannett Stock Up 4.1 %

The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.88. The stock has a market capitalization of $718.81 million, a P/E ratio of -6.00 and a beta of 2.51. The stock's 50 day simple moving average is $5.30 and its 200 day simple moving average is $4.51.

Gannett (NYSE:GCI - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.25. Gannett had a negative net margin of 4.44% and a negative return on equity of 12.16%. The firm had revenue of $639.84 million for the quarter.

Institutional Trading of Gannett

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

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.