Gannett (NYSE:GCI) Trading 5% Higher - Here's Why

Shares of Gannett Co., Inc. (NYSE:GCI - Get Free Report) shot up 5% during mid-day trading on Friday . The company traded as high as $3.67 and last traded at $3.69. 512,437 shares changed hands during trading, a decline of 65% from the average session volume of 1,473,329 shares. The stock had previously closed at $3.51.

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 business has a 50 day simple moving average of $3.47 and a 200-day simple moving average of $3.94. The firm has a market cap of $529.38 million, a price-to-earnings ratio of 361.30 and a beta of 2.63.

Gannett (NYSE:GCI - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share 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 during the quarter, compared to the consensus estimate of $592.97 million.

Insider Activity

In other Gannett news, CEO Michael Reed bought 27,000 shares of Gannett stock in a transaction dated Monday, May 5th. The stock was bought at an average cost of $3.25 per share, with a total value of $87,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,134,722 shares in the company, valued at approximately $10,187,846.50. The trade was a 0.87% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Gannett

A number of hedge funds have recently bought and sold shares of GCI. Invst LLC bought a new position in Gannett in the 1st quarter valued at $1,134,000. Strs Ohio purchased a new position in shares of Gannett in the 1st quarter worth about $187,000. Empowered Funds LLC grew its position in Gannett by 2.0% during the first quarter. Empowered Funds LLC now owns 951,925 shares of the company's stock valued at $2,751,000 after buying an additional 18,933 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Gannett during the first quarter worth about $316,000. Finally, Philosophy Capital Management LLC increased its holdings in Gannett by 9.9% during the first quarter. Philosophy Capital Management LLC now owns 5,885,461 shares of the company's stock worth $17,009,000 after buying an additional 528,970 shares during the last quarter. 76.71% of the stock is currently owned by 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.

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