Gannett (NYSE:GCI) Trading Down 5.3%

Gannett Co., Inc. (NYSE:GCI) shares were down 5.3% during trading on Thursday . The stock traded as low as $5.20 and last traded at $5.23. Approximately 41,480 shares were traded during trading, a decline of 97% from the average daily volume of 1,461,890 shares. The stock had previously closed at $5.52.

Several analysts have recently commented on GCI shares. started coverage on shares of Gannett in a research note on Thursday, June 3rd. They set a “sell” rating and a $3.80 price target on the stock. Citigroup assumed coverage on shares of Gannett in a research note on Thursday, June 3rd. They issued a “sell” rating on the stock. Finally, Zacks Investment Research cut shares of Gannett from a “hold” rating to a “sell” rating in a research note on Monday.

The stock’s 50 day moving average is $5.25. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 2.37. The firm has a market capitalization of $749.60 million, a PE ratio of -1.00 and a beta of 2.80.

Gannett (NYSE:GCI) last posted its earnings results on Friday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. The company had revenue of $777.08 million for the quarter, compared to analyst estimates of $786.02 million. Gannett had a negative net margin of 22.65% and a negative return on equity of 24.93%. As a group, equities analysts forecast that Gannett Co., Inc. will post -3.84 EPS for the current year.

In related news, Director Theodore Peter Janulis acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 11th. The shares were acquired at an average cost of $4.46 per share, for a total transaction of $89,200.00. Following the completion of the acquisition, the director now directly owns 89,366 shares in the company, valued at approximately $398,572.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

Several large investors have recently modified their holdings of GCI. Mutual of America Capital Management LLC grew its position in Gannett by 14.3% in the first quarter. Mutual of America Capital Management LLC now owns 17,639 shares of the company’s stock valued at $95,000 after purchasing an additional 2,207 shares in the last quarter. Advisor Partners LLC grew its position in Gannett by 21.2% in the first quarter. Advisor Partners LLC now owns 13,003 shares of the company’s stock valued at $70,000 after purchasing an additional 2,271 shares in the last quarter. CIBC Asset Management Inc grew its position in Gannett by 17.8% in the first quarter. CIBC Asset Management Inc now owns 16,944 shares of the company’s stock valued at $91,000 after purchasing an additional 2,555 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Gannett by 2.7% in the 1st quarter. Prudential Financial Inc. now owns 149,106 shares of the company’s stock valued at $802,000 after acquiring an additional 3,890 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Gannett by 4.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 93,681 shares of the company’s stock valued at $514,000 after acquiring an additional 4,274 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

About Gannett (NYSE:GCI)

Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through two segments, Publishing and Digital Marketing Solutions. The company's principal products include 253 daily newspapers with total paid circulation of approximately 2.6 million and Sunday circulation of 3.0 million; 308 weekly newspapers with total circulation of approximately 1.6 million; and 375 locally-focused websites.

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