Equities researchers at JMP Securities initiated coverage on shares of Gannett (NYSE:GCI – Get Free Report) in a report released on Monday, Marketbeat reports. The firm set an “outperform” rating and a $6.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 30.15% from the stock’s previous close.
Separately, Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and raised their target price for the company from $1.95 to $3.60 in a report on Friday, May 24th.
Get Our Latest Analysis on GCI
Gannett Stock Performance
Gannett (NYSE:GCI – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter. Gannett had a negative net margin of 4.67% and a negative return on equity of 27.67%. The business had revenue of $635.76 million for the quarter.
Hedge Funds Weigh In On Gannett
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Apollo Management Holdings L.P. boosted its stake in Gannett by 34.8% in the fourth quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company’s stock valued at $26,655,000 after acquiring an additional 2,994,806 shares during the last quarter. GSA Capital Partners LLP raised its stake in Gannett by 103.2% in the 4th quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company’s stock valued at $2,523,000 after acquiring an additional 557,079 shares during the period. Silverberg Bernstein Capital Management LLC bought a new stake in shares of Gannett in the fourth quarter valued at approximately $934,000. FourWorld Capital Management LLC bought a new position in Gannett in the 1st quarter worth approximately $488,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Gannett in the first quarter worth $394,000. Hedge funds and other 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.
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