Citigroup Upgrades Gannett (NYSE:GCI) to Neutral

Gannett (NYSE:GCIGet Free Report) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a research note issued to investors on Friday, Briefing.com reports. The brokerage presently has a $3.60 price objective on the stock, up from their prior price objective of $1.95. Citigroup’s price objective would suggest a potential upside of 4.35% from the stock’s previous close.

Gannett Stock Up 1.5 %

GCI opened at $3.45 on Friday. The company’s 50-day moving average price is $2.69 and its two-hundred day moving average price is $2.37. Gannett has a twelve month low of $1.66 and a twelve month high of $3.79. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 4.16. The stock has a market cap of $509.05 million, a price-to-earnings ratio of -3.97 and a beta of 2.30.

Gannett (NYSE:GCIGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter. Gannett had a negative net margin of 4.67% and a negative return on equity of 27.67%. The business had revenue of $635.76 million during the quarter.

Institutional Trading of Gannett

Several hedge funds and other institutional investors have recently modified their holdings of GCI. Bank of New York Mellon Corp increased its holdings in Gannett by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 799,212 shares of the company’s stock worth $1,958,000 after acquiring an additional 11,739 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Gannett by 39.3% in the 3rd quarter. Principal Financial Group Inc. now owns 21,258 shares of the company’s stock worth $52,000 after buying an additional 5,997 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Gannett in the 3rd quarter worth $25,000. Aigen Investment Management LP bought a new position in shares of Gannett in the 3rd quarter worth $69,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Gannett by 372.8% in the 3rd quarter. Acadian Asset Management LLC now owns 2,340,976 shares of the company’s stock worth $5,732,000 after buying an additional 1,845,888 shares during the last quarter. Institutional investors own 76.71% of the company’s stock.

About Gannett

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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.

Further Reading

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