Gannett (NYSE:GCI) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

Gannett Co., Inc. (NYSE:GCI)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.20 and traded as low as $4.86. Gannett shares last traded at $4.96, with a volume of 895,979 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded 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, September 17th.

Gannett Stock Up 4.0 %

The firm has a fifty day moving average of $5.19 and a 200-day moving average of $5.09. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.88. The firm has a market cap of $759.17 million, a P/E ratio of -6.36 and a beta of 2.55.

Institutional Investors Weigh In On Gannett

Institutional investors and hedge funds have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. grew its stake in shares of Gannett by 28.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 5,174,914 shares of the company’s stock valued at $23,856,000 after buying an additional 1,149,459 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Gannett by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,979,617 shares of the company’s stock valued at $22,954,000 after acquiring an additional 229,539 shares during the last quarter. State Street Corp grew its position in shares of Gannett by 3.0% in the 3rd 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. Troluce Capital Advisors LLC acquired a new position in shares of Gannett during the 2nd quarter worth about $8,659,000. Finally, Millennium Management LLC raised its holdings in shares of Gannett by 18.9% in the 2nd quarter. Millennium Management LLC now owns 1,118,284 shares of the company’s stock valued at $5,155,000 after purchasing an additional 177,446 shares during the period. Institutional investors 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.