Acadian Asset Management LLC Has $2.96 Million Stake in Gannett Co., Inc. $GCI

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 lowered its holdings in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 33.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambiar Investors LLC raised its holdings in shares of Gannett by 26.1% during the 1st quarter. Cambiar Investors LLC now owns 17,103 shares of the company's stock valued at $49,000 after purchasing an additional 3,545 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gannett in the 1st quarter valued at $67,000. Teza Capital Management LLC acquired a new position in Gannett in the 4th quarter valued at $182,000. ProShare Advisors LLC grew its stake in Gannett by 49.3% in the 4th quarter. ProShare Advisors LLC now owns 39,975 shares of the company's stock valued at $202,000 after buying an additional 13,201 shares during the last quarter. Finally, Aigen Investment Management LP grew its stake in Gannett by 188.3% in the 1st quarter. Aigen Investment Management LP now owns 44,578 shares of the company's stock valued at $129,000 after buying an additional 29,116 shares during the last quarter. Institutional investors own 76.71% of the company's stock.

Gannett Stock Performance

NYSE:GCI traded down $0.10 during midday trading on Wednesday, reaching $4.28. The stock had a trading volume of 1,161,562 shares, compared to its average volume of 1,237,286. Gannett Co., Inc. has a 1-year low of $2.55 and a 1-year high of $5.93. The firm's fifty day simple moving average is $4.01 and its 200-day simple moving average is $3.58. 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 stock has a market capitalization of $627.53 million, a P/E ratio of 12.59 and a beta of 2.64.

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

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.