The stock of Gannett Co Inc (NYSE:GCI) reached all time low today, Nov, 3 and still has $7.10 target or 5.00% below today’s $7.47 share price. This indicates more downside for the $845.90 million company. This technical setup was reported by Barchart.com. If the $7.10 PT is reached, the company will be worth $42.30M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 1.06% or $0.08 on November 3, hitting $7.47. About 2.36M shares traded hands or 110.71% up from the average. Gannett Co Inc (NYSE:GCI) has declined 50.33% since April 1, 2016 and is downtrending. It has underperformed by 51.54% the S&P500.
Gannett Co Inc (NYSE:GCI) Ratings Coverage
Out of 6 analysts covering Gannett (NYSE:GCI), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Gannett has been the topic of 10 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Wednesday, October 7 by Cantor Fitzgerald. The rating was downgraded by Zacks on Tuesday, September 1 to “Hold”. maintained Gannett Co Inc (NYSE:GCI) rating on Monday, October 10. has “Hold” rating and $12 price target. The rating was maintained by Noble Financial on Wednesday, November 2 with “Buy”. The company was maintained on Monday, November 2 by JP Morgan. The firm earned “Buy” rating on Thursday, November 5 by Argus Research. The rating was initiated by Argus Research with “Hold” on Tuesday, September 8. The firm has “Hold” rating given on Friday, September 4 by Argus Research. The stock has “Hold” rating given by Jefferies on Monday, July 11.
According to Zacks Investment Research, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets.”
Insitutional Activity: The institutional sentiment decreased to 1.5 in Q2 2016. Its down 2.50, from 4 in 2016Q1. The ratio dived, as 1 funds sold all Gannett Co Inc shares owned while 1 reduced positions. 2 funds bought stakes while 1 increased positions. They now own 157,915 shares or 45.06% less from 287,452 shares in 2016Q1.
Leavell Invest Management Incorporated holds 14,900 shares or 0.03% of its portfolio. Mutual Of Omaha State Bank Wealth last reported 8,245 shares in the company. Huntington Natl Bank has invested 0.01% of its portfolio in Gannett Co Inc (NYSE:GCI). Moreover, Marshwinds Advisory has 0.14% invested in Gannett Co Inc (NYSE:GCI) for 12,836 shares. Gemmer Asset Mgmt Limited Com owns 799 shares or 0.01% of their US portfolio. Gulf Intll Retail Bank (Uk), a United Kingdom-based fund reported 63,910 shares. Covington Management, a California-based fund reported 48,009 shares.
More notable recent Gannett Co Inc (NYSE:GCI) news were published by: Fool.com which released: “Why Shares of Gannett Co. Inc. Just Got Crushed” on October 27, 2016, also Reuters.com with their article: “REFILE-BRIEF-Gannett Co Inc terminates discussions to acquire Tronc Inc” published on November 01, 2016, Investorplace.com published: “Gannett Co Inc (GCI) Drops Bid for ‘Chicago Tribune’ Publisher Tronc Inc (TRNC)” on November 01, 2016. More interesting news about Gannett Co Inc (NYSE:GCI) were released by: Nasdaq.com and their article: “Gannett Co Inc Stock Sinks After Q3 Earnings Report” published on October 27, 2016 as well as Marketwatch.com‘s news article titled: “USA Today-owner Gannett Co. reports Q3 loss, better-than-expected revenue” with publication date: October 27, 2016.
GCI Company Profile
Gannett Co., Inc., incorporated on November 21, 2014, is an international, multi-platform news and information company. The Firm is a local content well-known provider in the United States, operating in over 30 states and Guam. The Company’s activities comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom. The Company’s daily publications in the United States include USA TODAY. Together with over 20 daily paid-for publications, its Newsquest division operates in the United Kingdom. In the markets it serves, the Company also operates desktop, smartphone and tablet products, which are integrated with publishing operations. The Company’s activities also include commercial printing, marketing and data services operations.
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