Gannett’s (GCI) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Gannett (NYSE:GCI) in a report released on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock.

Gannett Price Performance

Shares of NYSE:GCI opened at $4.56 on Monday. The business has a fifty day moving average price of $5.12 and a 200-day moving average price of $5.10. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. The company has a market capitalization of $671.45 million, a PE ratio of -5.62 and a beta of 2.55. Gannett has a 1-year low of $1.95 and a 1-year high of $5.93.

Hedge Funds Weigh In On Gannett

A number of hedge funds have recently bought and sold shares of GCI. Dimensional Fund Advisors LP boosted its stake in shares of Gannett by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,979,617 shares of the company’s stock worth $22,954,000 after buying an additional 229,539 shares during the last quarter. State Street Corp lifted its holdings in Gannett by 3.0% in the third quarter. State Street Corp now owns 4,058,266 shares of the company’s stock valued at $22,807,000 after acquiring an additional 116,716 shares during the period. Millennium Management LLC boosted its position in Gannett by 18.9% in the second quarter. Millennium Management LLC now owns 1,118,284 shares of the company’s stock worth $5,155,000 after purchasing an additional 177,446 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Gannett by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 887,446 shares of the company’s stock valued at $4,987,000 after purchasing an additional 45,158 shares during the period. Finally, Silverberg Bernstein Capital Management LLC increased its position in shares of Gannett by 0.8% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company’s stock valued at $2,895,000 after purchasing an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors 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.