Gannett (NYSE:GCI) Shares Gap Up - What's Next?

Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.82, but opened at $3.96. Gannett shares last traded at $3.94, with a volume of 80,057 shares trading hands.

Gannett Stock Down 1.1%

The business's 50 day moving average price is $3.55 and its 200-day moving average price is $3.81. The firm has a market capitalization of $570.38 million, a PE ratio of 389.50 and a beta of 2.60. The company has a debt-to-equity ratio of 6.28, a quick ratio of 0.69 and a current ratio of 0.72.

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

Insider Buying and Selling at Gannett

In other Gannett news, CEO Michael Reed bought 27,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average cost of $3.25 per share, with a total value of $87,750.00. Following the purchase, the chief executive officer directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Gannett

Several large investors have recently added to or reduced their stakes in GCI. Vanguard Group Inc. grew its holdings in Gannett by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 8,184,594 shares of the company's stock worth $23,653,000 after acquiring an additional 91,332 shares in the last quarter. Philosophy Capital Management LLC grew its holdings in Gannett by 9.9% during the 1st quarter. Philosophy Capital Management LLC now owns 5,885,461 shares of the company's stock worth $17,009,000 after acquiring an additional 528,970 shares in the last quarter. Cooperman Leon G grew its holdings in Gannett by 6.0% during the 1st quarter. Cooperman Leon G now owns 5,097,200 shares of the company's stock worth $14,731,000 after acquiring an additional 289,867 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Gannett by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,968,839 shares of the company's stock worth $25,141,000 after acquiring an additional 215,965 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Gannett by 68.5% during the 4th quarter. Nuveen Asset Management LLC now owns 2,431,937 shares of the company's stock worth $12,306,000 after acquiring an additional 988,990 shares in the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

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.