Gannett (NYSE:GCI) Shares Gap Up - Here's Why

Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s share price gapped up before the market opened 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 Price Performance

The company has a debt-to-equity ratio of 6.28, a quick ratio of 0.69 and a current ratio of 0.72. The firm has a market cap of $570.38 million, a price-to-earnings ratio of 389.50 and a beta of 2.60. The stock's 50 day simple moving average is $3.55 and its 200-day simple moving average is $3.83.

Gannett (NYSE:GCI - Get Free Report) last issued 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). Gannett had a net margin of 2.09% and a return on equity of 24.41%. The company had revenue of $571.57 million for the quarter, compared to analyst estimates of $592.97 million.

Insider Transactions at Gannett

In related news, CEO Michael Reed purchased 27,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were acquired at an average price 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 of the company's stock, valued at $10,187,846.50. This trade represents a 0.87% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Aquatic Capital Management LLC purchased a new stake in shares of Gannett in the 4th quarter valued at $35,000. Cambiar Investors LLC boosted its holdings in shares of Gannett by 26.1% in the 1st quarter. Cambiar Investors LLC now owns 17,103 shares of the company's stock valued at $49,000 after acquiring an additional 3,545 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Gannett in the 4th quarter valued at $51,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Gannett in the 2nd quarter valued at $53,000. Finally, Straightline Group LLC purchased a new stake in shares of Gannett in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 76.71% of the company's stock.

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.