Gannett Co., Inc. (NYSE:GCI) Short Interest Update

Gannett Co., Inc. (NYSE:GCIGet Rating) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 14,300,000 shares, a drop of 8.2% from the August 15th total of 15,570,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is presently 10.8 days. Approximately 10.4% of the shares of the company are sold short.

Insider Transactions at Gannett

In related news, CEO Michael Reed bought 500,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was bought at an average price of $2.44 per share, for a total transaction of $1,220,000.00. Following the purchase, the chief executive officer now owns 1,836,335 shares in the company, valued at approximately $4,480,657.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gannett

Hedge funds have recently bought and sold shares of the company. Murphy Pohlad Asset Management LLC bought a new position in Gannett in the 1st quarter valued at about $76,000. Dimensional Fund Advisors LP increased its holdings in Gannett by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,910,221 shares of the company’s stock valued at $26,171,000 after buying an additional 339,100 shares during the period. Bank of America Corp DE increased its holdings in Gannett by 49.9% in the 4th quarter. Bank of America Corp DE now owns 450,650 shares of the company’s stock valued at $2,403,000 after buying an additional 150,031 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Gannett by 4.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 178,162 shares of the company’s stock valued at $804,000 after purchasing an additional 7,857 shares during the last quarter. Finally, Miller Value Partners LLC grew its holdings in shares of Gannett by 8.7% during the 4th quarter. Miller Value Partners LLC now owns 1,085,900 shares of the company’s stock valued at $5,788,000 after purchasing an additional 86,950 shares during the last quarter. 66.16% of the stock is owned by institutional investors.

Gannett Price Performance

NYSE:GCI opened at $2.17 on Tuesday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.75 and a current ratio of 0.81. Gannett has a 52 week low of $1.98 and a 52 week high of $7.03. The firm has a market cap of $318.10 million, a price-to-earnings ratio of -4.43 and a beta of 2.35. The firm’s 50-day simple moving average is $2.49 and its 200 day simple moving average is $3.40.

Gannett (NYSE:GCIGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.20) EPS for the quarter. Gannett had a negative net margin of 2.06% and a positive return on equity of 9.15%. The firm had revenue of $748.66 million during the quarter.

Analysts Set New Price Targets

GCI has been the topic of a number of recent research reports. TheStreet lowered shares of Gannett from a “c-” rating to a “d” rating in a research report on Friday, August 12th. StockNews.com lowered shares of Gannett from a “hold” rating to a “sell” rating in a research report on Thursday, August 25th. Finally, Citigroup lowered their price target on shares of Gannett from $2.65 to $1.70 in a research report on Thursday, August 25th.

About Gannett

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Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through two segments, Publishing and Digital Marketing Solutions. The company's principal products include 230 daily print media with total paid circulation of approximately 1.9 million and Sunday circulation of 2.2 million; 249 weekly print media with total circulation of approximately 1.4 million; and 292 locally-focused websites.

Further Reading

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