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Less Popular Stocks, HCI and Gannett, Show Astonishing Gains on Friday

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The S&P 500 and Dow Jones closed at record highs yesterday, ending an eventful week in the markets. The S&P 500 was up 0.17% and the Dow Jones 0.41% as major Stocks was in green.

Multiple stocks performed well Friday, posting significant gains; however, two corporations that showed significantly, yet surprising gains were HCI (NYSE: HCI) Group and Gannett (NYSE: GCI).

HCI’s shares soared by 18%, and they also reported excellent quarter two results. HCI has diverse businesses, which includes real estate, software development, and insurance. 

Their insurance business which accounts for a large portion of their revenue, increased by 27%, generated from insurance premiums. However, large claims and policy acquisitions cost them a 60% loss on net income. Their earnings per share decreased to 24 cents from the $1.08 last year. 

HCI’s TypTap insurance group are, according to CEO Parel Patel, of high value, and they are investing mainly in this group to maximize its potential. They announced that they had made an IPO submission for TypTap to go public, though the details are not yet known.

Gannett Stocks earnings surpass expectations.

Gannett, a mass media company of which USA Today is a subsidiary, spike more than 14% on Friday. The stock started rallying in the premarket by 6.3%. Gannett’s earnings per share were up 10 cents for its last quarter, better than the forecasted loss of 36 cents per share. The revenue increase is primarily due to the spike in digital subscribers, which was up by 41% since last year. 

Gannett’s digital subscribers increased to 1.4 million by the end of June, and they have an average of 174 million unique visitors. Their digital subscriptions are vital to the success of their business. Revenue from this sector increased by 21.5% compared to last year. 

Their revenue increased by 5% to $8 million, and their digital income account for almost one-third of the total revenue. The expectation was the publisher would lose revenue during this period.

Both Gannett and HCI, although not among the most popular, have solid track records and has been identified by market analysts as substantial growth future stocks. MetaNews to keep updating the further news and market analysis.

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Justin N. Richards

Justin N. Richards is a Florida-based technical analyst, market researcher, educator, and trader. Justin began his career in Chicago in 2001 performing futures market analysis for floor traders at the Chicago Board of Trade and the Chicago Mercantile Exchange. He also worked for numerous brokerage firms during that time, all of which hold him in high regard, and he has been providing outstanding analysis services for traders worldwide ever since. Mr. Richards is an expert in the area of market patterns, price and time analysis as it applies to futures, Forex, and stocks. In addition to these talents, he provides educational services for investors looking to improve their analysis and trade skills. Justin has a B.A. in Business Administration from UCLA and an M.S. in Financial Markets and Trading from the Illinois Institute of Technology. Justin’s professional experience, education, and discipline, not only make him an exceptional analyst, they point him out as a reliable, hard working and intelligent business strategist who is dedicated to his craft.
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