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

Gannett Co., Inc. (NYSE:GCI) saw unusually large options trading on Wednesday. Stock investors acquired 12,536 call options on the stock. This is an increase of 1,617% compared to the average volume of 730 call options.

Analyst Ratings Changes

Separately, Citigroup upgraded Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price target on the stock in a report on Tuesday, September 17th.

Institutional Trading of Gannett

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

Gannett Price Performance

GCI stock opened at $4.91 on Friday. The stock has a market cap of $723.78 million, a PE ratio of -6.06 and a beta of 2.55. Gannett has a 12 month low of $1.95 and a 12 month high of $5.93. The company has a 50-day moving average price of $5.32 and a 200 day moving average price of $4.98. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 3.88.

About Gannett

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.