Gannett Co Inc. (NYSE: GCI) stock jumped 1.62% on Friday to $1.88 against a previous-day closing price of $1.85. With 1.09 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.85 million shares. During the session, the Publishing company that operates in wider Communication Services sector, reached to the highest price of $1.9000 whereas the lowest price it dropped to was $1.8600. The 52-week range on GCI shows that it touched its highest point at $3.60 and its lowest point at $1.62 during that stretch. It currently has a 1-year price target of $1.80. Beta for the stock currently stands at 2.33.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GCI was down-trending over the past week, with a drop of -3.09%, but this was down by -24.19% over a month. Three-month performance dropped to -36.70% while six-month performance fell -11.32%. The stock lost -14.16% in the past year, while it has lost -7.39% so far this year. A look at the trailing 12-month EPS for GCI yields 0.14 with Next year EPS estimates of -0.06. For the next quarter, that number is 0.10. This implies an EPS growth rate of 183.73% for this year and -161.30% for next year.
Float and Shares Shorts:
At present, 146.22 million GCI shares are outstanding with a float of 126.61 million shares on hand for trading. On Oct 30, 2023, short shares totaled 14.63 million, which was 9.83% higher than short shares on Sep 28, 2023. In addition to Mr. Michael E. Reed as the firm’s Chairman, CEO & President, Mr. Douglas Edward Horne serves as its CFO & Principal Financial Officer.
Through their ownership of 74.66% of GCI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.07% of GCI, in contrast to 41.40% held by mutual funds. Shares owned by individuals account for 22.58%. As the largest shareholder in GCI with 8.82% of the stake, Alta Fundamental Advisers LLC holds 13,146,482 shares worth 13,146,482. A second-largest stockholder of GCI, BlackRock Fund Advisors, holds 9,040,216 shares, controlling over 6.06% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in GCI, holding 8,251,171 shares or 5.54% stake. With a 3.11% stake in GCI, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,639,277 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.23% of GCI stock, is the second-largest Mutual Fund holder. It holds 3,318,303 shares valued at 7.76 million. Vanguard Extended Market Index Fu holds 1.52% of the stake in GCI, owning 2,266,712 shares worth 5.3 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GCI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GCI analysts setting a high price target of $1.80 and a low target of $1.80, the average target price over the next 12 months is $1.80. Based on these targets, GCI could drop -4.26% to reach the target high and fall by -4.26% to reach the target low. Reaching the average price target will result in a decline of -4.26% from current levels.
Summary of Insider Activity:
Insiders traded GCI stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 10,204 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 2,805,317 while 579,059 shares were sold.