Gannett (NYSE:GCI) Upgraded to Neutral by Citigroup

Citigroup upgraded shares of Gannett (NYSE:GCI) from a sell rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $5.10 price objective on the stock.

Separately, JMP Securities raised shares of Gannett to a strong-buy rating in a research note on Friday, August 2nd.

Gannett Trading Down 7.0 %

GCI stock opened at $5.22 on Tuesday. The company’s 50-day simple moving average is $4.82 and its 200-day simple moving average is $3.80. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 3.83. Gannett has a 52-week low of $1.66 and a 52-week high of $5.93. The firm has a market cap of $770.20 million, a P/E ratio of -6.00 and a beta of 2.48.

Gannett (NYSE:GCI) last posted its 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 business 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Simplicity Wealth LLC purchased a new position in Gannett in the 1st quarter valued at about $25,000. Focus Financial Network Inc. ADV acquired a new stake in Gannett in the 4th quarter valued at about $25,000. Cambiar Investors LLC acquired a new stake in Gannett in the 2nd quarter valued at about $49,000. Dark Forest Capital Management LP acquired a new stake in Gannett in the 2nd quarter valued at about $57,000. Finally, Sei Investments Co. acquired a new stake in Gannett in the 2nd quarter valued at about $64,000. 76.71% of the stock is owned by hedge funds and other institutional investors.

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.