Gannett (NYSE:GCI) Lifted to Neutral at Citigroup

Citigroup upgraded shares of Gannett (NYSE:GCI) from a sell rating to a neutral rating in a report published on Friday, MarketBeat Ratings reports. They currently have $3.60 target price on the stock, up from their prior target price of $1.95.

Gannett Stock Up 7.5 %

NYSE:GCI opened at $3.71 on Friday. The firm has a market capitalization of $547.41 million, a price-to-earnings ratio of -4.26 and a beta of 2.30. Gannett has a 1-year low of $1.66 and a 1-year high of $3.79. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 4.16. The business’s fifty day moving average price is $2.72 and its 200 day moving average price is $2.38.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.26) earnings per share for the quarter. Gannett had a negative net margin of 4.67% and a negative return on equity of 27.67%. The business had revenue of $635.76 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. FourWorld Capital Management LLC acquired a new position in Gannett in the 1st quarter worth about $488,000. Kennedy Capital Management LLC acquired a new position in shares of Gannett during the 1st quarter valued at about $394,000. Apollo Management Holdings L.P. increased its holdings in shares of Gannett by 6.1% during the 1st quarter. Apollo Management Holdings L.P. now owns 12,292,642 shares of the company’s stock valued at $29,994,000 after acquiring an additional 703,617 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Gannett by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock valued at $216,000 after acquiring an additional 7,732 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Gannett during the 1st quarter valued at about $236,000. 76.71% of the stock is owned by institutional investors and hedge funds.

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.