Gannett Co., Inc. (NYSE:GCI – Get Free Report)’s share price fell 4.3% during mid-day trading on Friday . The stock traded as low as $5.35 and last traded at $5.37. 444,262 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 1,197,946 shares. The stock had previously closed at $5.61.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GCI. Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 target price on the stock in a research note on Tuesday. JMP Securities raised Gannett to a “strong-buy” rating in a research report on Friday, August 2nd.
Read Our Latest Stock Analysis on GCI
Gannett Price Performance
Gannett (NYSE:GCI – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.25. The firm had revenue of $639.84 million for the quarter. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%.
Institutional Trading of Gannett
A number of hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new position in Gannett in the first quarter worth about $25,000. Focus Financial Network Inc. ADV bought a new stake in shares of Gannett in the 4th quarter valued at approximately $25,000. Cambiar Investors LLC acquired a new stake in shares of Gannett during the 2nd quarter valued at approximately $49,000. Dark Forest Capital Management LP acquired a new stake in shares of Gannett during the 2nd quarter valued at approximately $57,000. Finally, Sei Investments Co. bought a new position in Gannett during the second quarter worth $64,000. Institutional investors and hedge funds own 76.71% of the company’s stock.
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.
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