Gannett (NYSE:GCI) Stock Passes Above 50-Day Moving Average - What's Next?

Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $3.49 and traded as high as $3.84. Gannett shares last traded at $3.81, with a volume of 622,130 shares.

Gannett Trading Up 2.5%

The company has a debt-to-equity ratio of 6.28, a current ratio of 0.72 and a quick ratio of 0.69. The company's fifty day moving average is $3.50 and its 200-day moving average is $3.84. The stock has a market cap of $544.76 million, a PE ratio of 372.00 and a beta of 2.60.

Gannett (NYSE:GCI - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $571.57 million for the quarter, compared to analyst estimates of $592.97 million. Gannett had a net margin of 2.09% and a return on equity of 24.41%.

Insider Transactions at Gannett

In other news, CEO Michael Reed acquired 27,000 shares of the business's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $3.25 per share, for a total transaction of $87,750.00. Following the purchase, the chief executive officer owned 3,134,722 shares in the company, valued at approximately $10,187,846.50. This represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gannett

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Gannett by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,774 shares of the company's stock valued at $409,000 after acquiring an additional 2,818 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Gannett by 3.6% in the first quarter. Principal Financial Group Inc. now owns 89,419 shares of the company's stock valued at $258,000 after buying an additional 3,074 shares in the last quarter. Cambiar Investors LLC grew its stake in shares of Gannett by 26.1% in the first quarter. Cambiar Investors LLC now owns 17,103 shares of the company's stock valued at $49,000 after buying an additional 3,545 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Gannett by 3.6% in the fourth quarter. Legal & General Group Plc now owns 134,429 shares of the company's stock valued at $680,000 after buying an additional 4,710 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in Gannett by 6.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 84,426 shares of the company's stock worth $244,000 after purchasing an additional 5,048 shares in the last quarter. Hedge funds and other 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.