Gannett Co., Inc. (NYSE:GCI – Get Free Report) saw strong trading volume on Tuesday . 447,473 shares changed hands during trading, a decline of 62% from the previous session’s volume of 1,164,609 shares.The stock last traded at $5.22 and had previously closed at $4.61.
Analyst Ratings Changes
Several analysts have recently issued reports on GCI shares. Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective 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.
View Our Latest Research Report on GCI
Gannett Price Performance
Gannett (NYSE:GCI – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.25. The firm 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
Several hedge funds and other institutional investors have recently made changes to their positions in GCI. Simplicity Wealth LLC acquired a new position in Gannett in the first quarter valued at approximately $25,000. Focus Financial Network Inc. ADV purchased a new stake in shares of Gannett during the 4th quarter worth approximately $25,000. Cambiar Investors LLC acquired a new position in shares of Gannett in the 2nd quarter valued at $49,000. Dark Forest Capital Management LP purchased a new position in shares of Gannett in the 2nd quarter valued at $57,000. Finally, Sei Investments Co. acquired a new stake in Gannett during the 2nd quarter worth $64,000. Institutional investors and hedge funds own 76.71% of the company’s stock.
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.
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