Gannett (GCI) Downgraded by TheStreet to “C”

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Gannett (NYSE:GCI) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c” rating in a research report issued on Thursday.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Gannett from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Noble Financial set a $15.00 target price on shares of Gannett and gave the company a “buy” rating in a research report on Tuesday, August 28th. Finally, ValuEngine raised shares of Gannett from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.50.

Shares of GCI stock traded up $0.39 on Thursday, hitting $10.45. 1,118,146 shares of the stock traded hands, compared to its average volume of 1,140,844. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 10.15 and a beta of 0.83. Gannett has a twelve month low of $9.04 and a twelve month high of $12.38.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The firm had revenue of $711.70 million for the quarter, compared to analysts’ expectations of $723.60 million. During the same quarter in the previous year, the company posted $0.17 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Gannett will post 1.13 EPS for the current year.

In other Gannett news, CMO Andrew T. Yost sold 3,500 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $10.31, for a total value of $36,085.00. Following the transaction, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at $36,435.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew T. Yost sold 5,175 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total transaction of $53,768.25. Following the completion of the transaction, the insider now directly owns 7,034 shares in the company, valued at approximately $73,083.26. The disclosure for this sale can be found here. Insiders sold 9,012 shares of company stock worth $93,318 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new stake in Gannett during the second quarter worth about $17,775,000. Millennium Management LLC increased its stake in Gannett by 1,547.3% during the second quarter. Millennium Management LLC now owns 1,207,217 shares of the company’s stock worth $12,917,000 after purchasing an additional 1,133,934 shares during the period. BlackRock Inc. increased its stake in Gannett by 6.7% during the second quarter. BlackRock Inc. now owns 15,612,646 shares of the company’s stock worth $167,055,000 after purchasing an additional 982,808 shares during the period. Dimensional Fund Advisors LP increased its stake in Gannett by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 9,223,937 shares of the company’s stock worth $98,696,000 after purchasing an additional 829,856 shares during the period. Finally, LSV Asset Management increased its stake in Gannett by 12.4% during the second quarter. LSV Asset Management now owns 5,062,586 shares of the company’s stock worth $54,169,000 after purchasing an additional 557,050 shares during the period. 96.34% of the stock is currently owned by institutional investors.

About Gannett

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom.

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