Gannett Co., Inc. (NYSE:GCI) Sees Large Decrease in Short Interest

Gannett Co., Inc. (NYSE:GCIGet Rating) was the target of a large decline in short interest in December. As of December 30th, there was short interest totalling 13,560,000 shares, a decline of 14.7% from the December 15th total of 15,890,000 shares. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is currently 10.0 days. Currently, 9.9% of the company’s stock are sold short.

Gannett Price Performance

GCI opened at $2.04 on Friday. The company has a 50-day moving average of $2.24 and a 200-day moving average of $2.18. The company has a market capitalization of $298.03 million, a P/E ratio of -2.10 and a beta of 2.48. Gannett has a 1-year low of $1.25 and a 1-year high of $6.38. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.72 and a current ratio of 0.78.

Gannett (NYSE:GCIGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.35 earnings per share for the quarter. The company had revenue of $717.90 million during the quarter. Gannett had a negative net margin of 4.38% and a positive return on equity of 15.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GCI shares. StockNews.com raised shares of Gannett from a “sell” rating to a “hold” rating in a research note on Friday, November 4th. Citigroup lifted their price target on shares of Gannett from $1.70 to $2.10 and gave the stock a “sell” rating in a research note on Thursday, November 17th.

Insider Activity at Gannett

In other Gannett news, Director Laurence Tarica bought 100,000 shares of Gannett stock in a transaction that occurred on Wednesday, December 14th. The shares were acquired at an average price of $2.25 per share, for a total transaction of $225,000.00. Following the acquisition, the director now owns 753,244 shares of the company’s stock, valued at approximately $1,694,799. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Gannett

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Gannett by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,724,537 shares of the company’s stock valued at $16,409,000 after buying an additional 469,253 shares during the last quarter. State Street Corp grew its position in shares of Gannett by 2.1% during the 2nd quarter. State Street Corp now owns 6,137,553 shares of the company’s stock valued at $17,799,000 after buying an additional 127,731 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Gannett by 10.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,364,268 shares of the company’s stock valued at $10,663,000 after buying an additional 217,050 shares during the last quarter. Invesco Ltd. grew its position in shares of Gannett by 8.9% during the 1st quarter. Invesco Ltd. now owns 2,229,251 shares of the company’s stock valued at $10,054,000 after buying an additional 182,007 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Gannett by 3.9% during the 2nd quarter. Northern Trust Corp now owns 1,517,131 shares of the company’s stock valued at $4,400,000 after buying an additional 57,642 shares during the last quarter. Institutional investors own 68.38% of the company’s stock.

Gannett Company Profile

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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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