Michael Reed Acquires 27,000 Shares of Gannett Co., Inc. (NYSE:GCI) Stock

Gannett Co., Inc. (NYSE:GCI - Get Free Report) CEO Michael Reed purchased 27,000 shares of the 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 completion of the acquisition, the chief executive officer now owns 3,134,722 shares of the company's stock, valued at approximately $10,187,846.50. This represents a 0.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Gannett Trading Up 6.2 %

Shares of GCI traded up $0.20 during mid-day trading on Wednesday, hitting $3.35. The company had a trading volume of 466,990 shares, compared to its average volume of 1,454,372. Gannett Co., Inc. has a 1-year low of $2.11 and a 1-year high of $5.93. The business's 50-day simple moving average is $3.18 and its 200-day simple moving average is $4.38. The stock has a market cap of $489.83 million, a PE ratio of -6.18 and a beta of 2.67. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59.

Gannett (NYSE:GCI - Get Free Report) last issued 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). The firm had revenue of $571.57 million during the quarter, compared to analyst estimates of $592.97 million. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%.

Analyst Ratings Changes

Separately, JMP Securities reiterated a "market outperform" rating and issued a $6.00 price target on shares of Gannett in a report on Monday, January 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of Gannett by 341.9% during the 3rd quarter. Barclays PLC now owns 218,056 shares of the company's stock valued at $1,224,000 after acquiring an additional 168,711 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Gannett by 11.9% during the fourth quarter. Ritholtz Wealth Management now owns 97,067 shares of the company's stock worth $491,000 after purchasing an additional 10,332 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Gannett in the fourth quarter worth about $108,000. Caprock Group LLC grew its stake in shares of Gannett by 55.6% in the fourth quarter. Caprock Group LLC now owns 35,769 shares of the company's stock valued at $181,000 after buying an additional 12,788 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Gannett by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 22,368 shares of the company's stock worth $113,000 after acquiring an additional 5,170 shares in the last quarter. 76.71% of the stock is 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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