Gannett (NYSE:GCI) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Gannett (NYSE:GCI) from a sell rating to a neutral rating in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage currently has $3.60 target price on the stock, up from their previous target price of $1.95.

Gannett Trading Up 7.5 %

Gannett stock opened at $3.71 on Friday. The stock has a market cap of $547.41 million, a P/E ratio of -4.26 and a beta of 2.30. Gannett has a fifty-two week low of $1.66 and a fifty-two week high of $3.79. The firm’s fifty day moving average price is $2.72 and its 200-day moving average price is $2.38. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.75 and a current ratio of 0.79.

Gannett (NYSE:GCI) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.26) earnings per share for the quarter. The firm 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 institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC purchased a new position in Gannett in the third quarter worth $25,000. Simplicity Wealth LLC purchased a new position in Gannett in the first quarter worth $25,000. Focus Financial Network Inc. ADV purchased a new position in Gannett in the fourth quarter worth $25,000. Principal Financial Group Inc. grew its position in Gannett by 39.3% in the third quarter. Principal Financial Group Inc. now owns 21,258 shares of the company’s stock worth $52,000 after acquiring an additional 5,997 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Gannett in the third quarter worth $69,000. Institutional investors own 76.71% of the company’s stock.

Gannett Company Profile

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.