Gannett (NYSE:GCI) Shares Cross Below 50 Day Moving Average – Should You Sell?
by Renee Jackson · The Cerbat GemGannett Co., Inc. (NYSE:GCI – Get Free Report) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $4.56 and traded as low as $4.50. Gannett shares last traded at $4.55, with a volume of 2,164,584 shares trading hands.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Gannett in a report on Thursday, November 13th. Wall Street Zen lowered Gannett from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Citigroup increased their target price on Gannett from $4.30 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.55.
Read Our Latest Stock Report on GCI
Gannett Price Performance
The company has a market cap of $669.35 million, a price-to-earnings ratio of 21.67 and a beta of 2.55. The company has a fifty day moving average price of $4.56 and a two-hundred day moving average price of $4.13. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 4.66.
Gannett (NYSE:GCI – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). Gannett had a return on equity of 42.98% and a net margin of 4.11%.The business had revenue of $560.80 million for the quarter, compared to analyst estimates of $575.58 million.
Institutional Investors Weigh In On Gannett
A number of institutional investors have recently added to or reduced their stakes in GCI. CIBC Bancorp USA Inc. acquired a new stake in Gannett in the 3rd quarter valued at $62,000. PharVision Advisers LLC bought a new stake in Gannett during the 3rd quarter worth approximately $51,000. Two Seas Capital LP boosted its stake in Gannett by 26.3% in the third quarter. Two Seas Capital LP now owns 14,180,621 shares of the company’s stock worth $58,566,000 after purchasing an additional 2,950,000 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Gannett during the third quarter worth $96,000. Finally, Focus Partners Wealth bought a new stake in shares of Gannett during the third quarter worth $54,000. 76.71% of the stock is owned by institutional investors and hedge funds.
Gannett Company Profile
Gannett Co, Inc (NYSE: GCI) is a media and marketing solutions company headquartered in McLean, Virginia. As the largest U.S. newspaper publisher by circulation, Gannett publishes USA Today alongside more than 260 local news brands. The company’s multimedia platforms include daily and weekly newspapers, websites, mobile apps and a network of subscription-based digital products.
In addition to journalism and content production, Gannett offers a suite of digital marketing services designed to help small and medium-sized businesses grow online.