Gannett Co., Inc. (NYSE:GCI) Sees Significant Increase in Short Interest

Gannett Co., Inc. (NYSE:GCI) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 17,440,000 shares, an increase of 8.1% from the May 31st total of 16,140,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 13.7 days. Approximately 14.5% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

GCI has been the topic of several recent research reports. Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and increased their price target for the company from $1.95 to $3.60 in a report on Friday, May 24th. JMP Securities assumed coverage on shares of Gannett in a research report on Monday. They issued an “outperform” rating and a $6.00 price objective on the stock.

Gannett Stock Up 0.3 %

Shares of GCI stock opened at $4.82 on Thursday. Gannett has a twelve month low of $1.66 and a twelve month high of $4.88. The stock has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $2.83. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 4.16.

Gannett (NYSE:GCI) last announced 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 during the quarter. Gannett had a negative net margin of 4.67% and a negative return on equity of 27.67%.

Institutional Trading of Gannett

Several hedge funds have recently modified their holdings of GCI. Focus Financial Network Inc. ADV bought a new position in shares of Gannett during the 4th quarter worth approximately $25,000. Simplicity Wealth LLC acquired a new stake in shares of Gannett in the 1st quarter worth $25,000. Tower Research Capital LLC TRC boosted its holdings in Gannett by 108.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 29,008 shares of the company’s stock worth $67,000 after acquiring an additional 15,066 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Gannett during the 4th quarter worth approximately $82,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of Gannett by 285.4% during the third quarter. Quadrature Capital Ltd now owns 62,654 shares of the company’s stock worth $154,000 after purchasing an additional 46,396 shares during the period. 76.71% of the stock is owned by hedge funds and other institutional investors.

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.