Michael Reed Purchases 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 firm's stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $3.25 per share, with a total value of $87,750.00. Following the completion of the transaction, the chief executive officer now owns 3,134,722 shares in the company, valued at $10,187,846.50. This trade represents a 0.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Gannett Stock Up 0.4%

Shares of NYSE:GCI traded up $0.02 during midday trading on Monday, reaching $3.73. The company had a trading volume of 2,485,806 shares, compared to its average volume of 1,473,336. Gannett Co., Inc. has a 1-year low of $2.55 and a 1-year high of $5.93. 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 $545.47 million, a PE ratio of -6.90 and a beta of 2.67. The business's 50 day moving average price is $3.16 and its 200 day moving average price is $4.34.

Gannett (NYSE:GCI - Get Free Report) last announced its quarterly 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 company had revenue of $571.57 million for the quarter, compared to analyst estimates of $592.97 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GCI. Vanguard Group Inc. boosted its stake in Gannett by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 8,184,594 shares of the company's stock valued at $23,653,000 after purchasing an additional 91,332 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Gannett by 4.5% during 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 last quarter. Nuveen Asset Management LLC increased its stake in Gannett by 68.5% during 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 last quarter. Miller Value Partners LLC grew its stake in shares of Gannett by 74.8% during the fourth quarter. Miller Value Partners LLC now owns 2,396,625 shares of the company's stock valued at $12,127,000 after buying an additional 1,025,190 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Gannett by 10,205.0% during the first quarter. SG Americas Securities LLC now owns 2,198,271 shares of the company's stock worth $6,353,000 after buying an additional 2,176,939 shares during the period. 76.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reissued a "market outperform" rating and set a $6.00 price objective on shares of Gannett in a research note on Monday, January 27th.

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.