Insider Buying: Gannett Co., Inc. (NYSE:GCI) CEO Purchases 27,000 Shares of Stock

Gannett Co., Inc. (NYSE:GCI) CEO Michael Reed purchased 27,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $3.25 per share, for a total transaction of $87,750.00. Following the purchase, the chief executive officer now owns 3,134,722 shares of the company’s stock, valued at $10,187,846.50. This trade represents a 0.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Gannett Stock Performance

NYSE GCI opened at $3.53 on Friday. The business’s 50-day simple moving average is $3.16 and its 200-day simple moving average is $4.37. The firm has a market capitalization of $516.19 million, a P/E ratio of -6.53 and a beta of 2.67. Gannett Co., Inc. has a 1-year low of $2.55 and a 1-year high of $5.93. The company has a debt-to-equity ratio of 6.59, a current ratio of 0.78 and a quick ratio of 0.74.

Gannett (NYSE:GCI) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The business had revenue of $571.57 million for the quarter, compared to analysts’ expectations of $592.97 million.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and set a $6.00 price objective on shares of Gannett in a report on Monday, January 27th.

Institutional Trading of Gannett

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Gannett by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 8,093,262 shares of the company’s stock worth $40,952,000 after buying an additional 82,094 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Gannett by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,968,839 shares of the company’s stock worth $25,141,000 after acquiring an additional 215,965 shares during the period. Nuveen Asset Management LLC grew its position in Gannett by 68.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,431,937 shares of the company’s stock valued at $12,306,000 after acquiring an additional 988,990 shares in the last quarter. Miller Value Partners LLC raised its stake in shares of Gannett by 74.8% during the fourth quarter. Miller Value Partners LLC now owns 2,396,625 shares of the company’s stock valued at $12,127,000 after purchasing an additional 1,025,190 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Gannett by 10,205.0% during the first quarter. SG Americas Securities LLC now owns 2,198,271 shares of the company’s stock worth $6,353,000 after purchasing an additional 2,176,939 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

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.