Traders Buy Large Volume of Call Options on Gannett (NYSE:GCI)

Gannett Co., Inc. (NYSE:GCI) saw some unusual options trading on Tuesday. Investors acquired 12,131 call options on the company. This is an increase of approximately 840% compared to the typical daily volume of 1,290 call options.

Shares of Gannett stock opened at $6.11 on Thursday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.81 and a current ratio of 0.86. Gannett has a 1 year low of $1.03 and a 1 year high of $7.05. The business has a 50 day moving average price of $6.30 and a 200 day moving average price of $5.55.

Gannett (NYSE:GCI) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.46. Gannett had a negative return on equity of 9.65% and a negative net margin of 8.58%. The firm had revenue of $804.28 million during the quarter, compared to the consensus estimate of $796.20 million. During the same period in the previous year, the firm posted ($3.32) EPS. On average, analysts anticipate that Gannett will post 0.55 EPS for the current year.

In other news, Director Laurence Tarica purchased 26,000 shares of the firm’s stock in a transaction dated Tuesday, September 14th. The shares were acquired at an average price of $6.42 per share, with a total value of $166,920.00. Following the purchase, the director now directly owns 550,263 shares of the company’s stock, valued at $3,532,688.46. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its position in shares of Gannett by 9.1% during the 2nd quarter. Mutual of America Capital Management LLC now owns 19,247 shares of the company’s stock worth $106,000 after purchasing an additional 1,608 shares during the last quarter. Stifel Financial Corp raised its position in shares of Gannett by 3.5% during the 2nd quarter. Stifel Financial Corp now owns 56,637 shares of the company’s stock worth $311,000 after purchasing an additional 1,927 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Gannett by 2.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 103,894 shares of the company’s stock valued at $570,000 after acquiring an additional 2,032 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Gannett by 0.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 264,417 shares of the company’s stock valued at $1,452,000 after acquiring an additional 2,173 shares during the last quarter. Finally, Texas Permanent School Fund raised its holdings in Gannett by 2.2% in the 2nd quarter. Texas Permanent School Fund now owns 100,890 shares of the company’s stock valued at $554,000 after acquiring an additional 2,212 shares during the last quarter. Hedge funds and other institutional investors own 62.98% of the company’s stock.

Separately, Zacks Investment Research lowered Gannett from a “strong-buy” rating to a “hold” rating in a research note on Monday.

Gannett Company Profile

Gannett Media Corp. provided media and marketing solutions. The company was headquartered in McLean, VA.

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