Citigroup Upgrades Gannett (NYSE:GCI) to ‘Neutral’

Gannett (NYSE:GCI – Get Free Report) was upgraded by Citigroup analysts from “sell” to “neutral” in a research note published on Friday, Marketbeat Ratings reports. The company’s stock currently has a price target of $3.60, up from the previous price target of $1.95. Citigroup’s price target indicates a potential downside of 2.96% for the stock from its previous close.

Gannett Stock Performance

Gannett shares opened Friday at $3.71. The company’s 50-day simple moving average is $2.72 and its 200-day simple moving average is $2.38. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt to equity ratio of 4.16. Gannett has a 1-year low of $1.66 and a 1-year high of $3.79. The company’s market capitalization is $547.41 million, its PE ratio is -4.26 and its beta is 2.30.

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

Institutional inflows and outflows

Several hedge funds and other institutional investors have recently modified their holdings in the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Gannett during the 3rd quarter valued at approximately $25,000. Simplicity Wealth LLC bought a new stake in shares of Gannett during the first quarter worth $25,000. Focus Financial Network Inc. ADV purchased a new position in Gannett during the fourth quarter worth $25,000. During the third quarter, Associate Financial Group Inc. increased its stake in Gannett by 39.3%. After acquiring an additional 5,997 shares in the last quarter, Primary Financial Group Inc. currently owns 21,258 shares of the company’s stock worth $52,000. Finally, Tower Research Capital LLC TRC boosted its position in Gannett by 108.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 29,008 shares of the company’s stock valued at $67,000 after purchasing an additional 15,066 shares in the last quarter. Hedge funds and other institutional investors hold 76.71% of the company’s shares.

Gannett Company Profile

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Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates in three segments: Domestic Gannett Media, Newsquest and Digital Marketing Solutions. The company’s printing offering includes home delivery on a subscription basis; single copy; offbeat publications such as shopping publications and niche publications.

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