Gannett Co., Inc. $GCI Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its ownership of Gannett Co., Inc. by 33.1%, selling 506,694 shares to hold a total of approximately 1,025,395 shares valued at $2.96 million.
• Vanguard Group Inc. increased its stake in Gannett by 1.1%, further solidifying their position with a total of 8.18 million shares worth about $23.65 million.
• Gannett's stock recently rose by 3.5%, and the company reported earnings that exceeded analysts' estimates with an EPS of $0.45 for the quarter.

Acadian Asset Management LLC reduced its stake in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,025,395 shares of the company's stock after selling 506,694 shares during the quarter. Acadian Asset Management LLC owned about 0.70% of Gannett worth $2,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in Gannett during the 1st quarter worth $6,434,000. SG Americas Securities LLC boosted its stake in shares of Gannett by 10,205.0% during the first quarter. SG Americas Securities LLC now owns 2,198,271 shares of the company's stock worth $6,353,000 after buying an additional 2,176,939 shares during the period. Nuveen Asset Management LLC raised its stake in Gannett by 68.5% during the 4th quarter. Nuveen Asset Management LLC now owns 2,431,937 shares of the company's stock valued at $12,306,000 after acquiring an additional 988,990 shares during the last quarter. Philosophy Capital Management LLC raised its stake in Gannett by 9.9% during the 1st quarter. Philosophy Capital Management LLC now owns 5,885,461 shares of the company's stock valued at $17,009,000 after acquiring an additional 528,970 shares during the last quarter. Finally, Nomura Holdings Inc. increased its holdings in shares of Gannett by 757.5% in the first quarter. Nomura Holdings Inc. now owns 428,766 shares of the company's stock valued at $1,239,000 after purchasing an additional 378,766 shares during the period. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Gannett Stock Performance

Shares of GCI stock traded down $0.09 during mid-day trading on Friday, hitting $4.30. The stock had a trading volume of 3,107,569 shares, compared to its average volume of 1,185,475. Gannett Co., Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $5.91. The firm has a market cap of $629.73 million, a PE ratio of 12.63 and a beta of 2.64. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.73 and a quick ratio of 0.70. The company's 50-day simple moving average is $4.03 and its 200-day simple moving average is $3.58.

Gannett (NYSE:GCI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.49. The firm had revenue of $584.86 million for the quarter, compared to the consensus estimate of $593.13 million. Gannett had a return on equity of 53.24% and a net margin of 4.84%.

Gannett 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.