Gannett (NYSE:GCI) Trading 6.5% Higher - Time to Buy?

Shares of Gannett Co., Inc. (NYSE:GCI - Get Free Report) were up 6.5% on Wednesday . The stock traded as high as $3.75 and last traded at $3.72. Approximately 223,034 shares traded hands during trading, a decline of 85% from the average daily volume of 1,513,754 shares. The stock had previously closed at $3.49.

Gannett Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59. The stock has a market cap of $519.55 million, a P/E ratio of -6.57 and a beta of 2.67. The firm's fifty day moving average price is $3.29 and its 200-day moving average price is $4.13.

Gannett (NYSE:GCI - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The firm had revenue of $571.57 million during the quarter, compared to the consensus estimate of $592.97 million.

Insider Transactions at Gannett

In related news, CEO Michael Reed bought 27,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were purchased at an average price of $3.25 per share, with a total value of $87,750.00. Following the purchase, the chief executive officer now owns 3,134,722 shares of the company's stock, valued at approximately $10,187,846.50. This trade represents a 0.87% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.20% of the company's stock.

Institutional Trading of Gannett

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Gannett by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 8,184,594 shares of the company's stock worth $23,653,000 after purchasing an additional 91,332 shares in the last quarter. Philosophy Capital Management LLC increased its stake in shares of Gannett by 9.9% in the first quarter. Philosophy Capital Management LLC now owns 5,885,461 shares of the company's stock worth $17,009,000 after purchasing an additional 528,970 shares in the last quarter. Cooperman Leon G lifted its stake in shares of Gannett by 6.0% during the 1st quarter. Cooperman Leon G now owns 5,097,200 shares of the company's stock valued at $14,731,000 after buying an additional 289,867 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Gannett by 4.5% in the fourth 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 during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Gannett by 68.5% in the fourth 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 during the period. Institutional investors 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.