Gannett Target of Unusually High Options Trading (NYSE:GCI)

Gannett Co., Inc. (NYSE:GCI) was the target of some unusual options trading activity on Wednesday. Investors bought 12,536 call options on the company. This is an increase of 1,617% compared to the typical volume of 730 call options.

Analyst Ratings Changes

Separately, Citigroup raised Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective on the stock in a research note on Tuesday, September 17th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GCI. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Gannett in the third quarter worth about $45,000. Cambiar Investors LLC purchased a new stake in shares of Gannett during the 2nd quarter worth approximately $49,000. nVerses Capital LLC bought a new position in shares of Gannett during the 3rd quarter valued at approximately $55,000. Dark Forest Capital Management LP purchased a new position in shares of Gannett in the second quarter valued at $57,000. Finally, PEAK6 Investments LLC bought a new stake in Gannett in the third quarter worth $57,000. Institutional investors own 76.71% of the company’s stock.

Gannett Stock Performance

GCI opened at $4.91 on Friday. The company has a 50 day simple moving average of $5.32 and a two-hundred day simple moving average of $4.98. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a market cap of $723.78 million, a P/E ratio of -6.06 and a beta of 2.55. Gannett has a 1-year low of $1.95 and a 1-year high of $5.93.

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.