Gannett (NYSE:GCI) Trading Down 4.8% - What's Next?

Key Points

• Gannett Co., Inc. saw its stock price decline by 4.8% to $4.05, with an average trading volume drop of 87% compared to prior sessions.
• The company's recent earnings report showed an earnings per share (EPS) of $0.45, surpassing analysts' expectations by $0.49, despite revenue falling short of estimates at $584.86 million.
• Institutional investors control 76.71% of Gannett's shares, with notable increases in holdings over the last quarter from major firms like Wells Fargo and Barclays.

Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s share price dropped 4.8% on Monday . The company traded as low as $4.08 and last traded at $4.05. Approximately 201,194 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,596,582 shares. The stock had previously closed at $4.25.

Gannett Price Performance

The stock's 50 day moving average price is $3.83 and its two-hundred day moving average price is $3.61. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.73 and a quick ratio of 0.70. The firm has a market capitalization of $591.60 million, a price-to-earnings ratio of 11.90 and a beta of 2.62.

Gannett (NYSE:GCI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.49. The business had revenue of $584.86 million during the quarter, compared to analysts' expectations of $593.13 million. Gannett had a net margin of 4.84% and a return on equity of 53.24%.

Hedge Funds Weigh In On Gannett

A number of hedge funds have recently made changes to their positions in GCI. Nomura Holdings Inc. increased its position in shares of Gannett by 721.0% during the 2nd quarter. Nomura Holdings Inc. now owns 3,520,099 shares of the company's stock worth $12,602,000 after purchasing an additional 3,091,333 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Gannett by 592.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 38,545 shares of the company's stock worth $138,000 after purchasing an additional 32,977 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Gannett by 3.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 139,339 shares of the company's stock worth $499,000 after purchasing an additional 5,112 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Gannett during the 2nd quarter worth about $184,000. Finally, Bank of America Corp DE increased its position in shares of Gannett by 386.9% during the 2nd quarter. Bank of America Corp DE now owns 528,695 shares of the company's stock worth $1,893,000 after purchasing an additional 420,106 shares in the last quarter. Institutional investors and hedge funds 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.