Gannett (NYSE:GCI) Stock Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Gannett's stock price has recently fallen below its 50-day moving average of $4.11, trading as low as $4.07.
• In its latest earnings report, Gannett reported $0.45 EPS, significantly exceeding analysts' expectations of ($0.04), despite revenue falling short at $584.86 million.
• Institutional investors own 76.71% of Gannett's stock, with recent increases in holdings from several hedge funds.

Gannett Co., Inc. (NYSE:GCI - Get Free Report) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.11 and traded as low as $4.07. Gannett shares last traded at $4.13, with a volume of 559,663 shares.

Gannett Stock Performance

The stock has a fifty day simple moving average of $4.11 and a two-hundred day simple moving average of $3.63. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.70 and a current ratio of 0.73. The stock has a market cap of $605.53 million, a price-to-earnings ratio of 12.15 and a beta of 2.64.

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

Institutional Investors Weigh In On Gannett

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of Gannett by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 89,419 shares of the company's stock valued at $258,000 after acquiring an additional 3,074 shares in the last quarter. Legal & General Group Plc increased its holdings in Gannett by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 137,622 shares of the company's stock worth $493,000 after purchasing an additional 3,193 shares in the last quarter. Cambiar Investors LLC increased its holdings in Gannett by 26.1% in the 1st quarter. Cambiar Investors LLC now owns 17,103 shares of the company's stock worth $49,000 after purchasing an additional 3,545 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Gannett by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,362 shares of the company's stock valued at $244,000 after purchasing an additional 3,588 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of Gannett by 6.4% during the first quarter. OneDigital Investment Advisors LLC now owns 84,426 shares of the company's stock valued at $244,000 after purchasing an additional 5,048 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

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.

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