Gannett (NYSE:GCI) Shares Gap Down – Here’s What Happened

Gannett Co., Inc. (NYSE:GCI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $5.81, but opened at $5.23. Gannett shares last traded at $5.21, with a volume of 245,681 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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, September 17th. JMP Securities upgraded Gannett to a “strong-buy” rating in a research note on Friday, August 2nd.

Gannett Trading Down 17.4 %

The business has a 50 day moving average of $5.31 and a two-hundred day moving average of $4.46. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. The firm has a market cap of $708.48 million, a P/E ratio of -6.91 and a beta of 2.49.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.25. Gannett had a negative return on equity of 17.12% and a negative net margin of 3.71%. The business had revenue of $639.84 million for the quarter.

Institutional Investors Weigh In On Gannett

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in Gannett by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after buying an additional 3,333 shares in the last quarter. Silverberg Bernstein Capital Management LLC grew its holdings in Gannett by 0.8% in the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company’s stock valued at $2,895,000 after buying an additional 4,200 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Gannett by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock valued at $216,000 after buying an additional 7,732 shares in the last quarter. Simplicity Wealth LLC grew its holdings in Gannett by 77.9% in the 2nd quarter. Simplicity Wealth LLC now owns 18,166 shares of the company’s stock valued at $84,000 after buying an additional 7,952 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Gannett in the 3rd quarter valued at $55,000. 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.