Gannett Co., Inc. $GCI Shares Sold by Apollo Management Holdings L.P.

Key Points

• Apollo Management Holdings L.P. reduced its stake in Gannett Co., Inc. by 2.3%, owning approximately 11.65 million shares after selling 272,608 shares in the 1st quarter.
• Other institutional investors, like Deutsche Bank AG and Nuveen Asset Management LLC, have also significantly increased their stakes in Gannett in recent months.
• Gannett reported $0.45 EPS for the quarter, exceeding the consensus estimate by $0.49, despite a revenue shortfall compared to expectations.

Apollo Management Holdings L.P. lessened its stake in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,653,303 shares of the company's stock after selling 272,608 shares during the period. Gannett accounts for approximately 0.6% of Apollo Management Holdings L.P.'s portfolio, making the stock its 13th biggest position. Apollo Management Holdings L.P. owned about 7.96% of Gannett worth $33,678,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GCI. Deutsche Bank AG raised its stake in Gannett by 350.6% during the fourth quarter. Deutsche Bank AG now owns 339,125 shares of the company's stock worth $1,716,000 after purchasing an additional 263,867 shares during the period. Nuveen Asset Management LLC raised its position in shares of 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 buying an additional 988,990 shares during the period. Principal Financial Group Inc. lifted its holdings in Gannett by 3.6% in the first quarter. Principal Financial Group Inc. now owns 89,419 shares of the company's stock valued at $258,000 after acquiring an additional 3,074 shares during the last quarter. Barclays PLC grew its position in Gannett by 11.5% in the fourth quarter. Barclays PLC now owns 243,171 shares of the company's stock worth $1,231,000 after acquiring an additional 25,115 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gannett by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,774 shares of the company's stock worth $409,000 after acquiring an additional 2,818 shares during the last quarter. Hedge funds and other institutional investors own 76.71% of the company's stock.

Gannett Trading Up 4.3%

Shares of Gannett stock traded up $0.18 during trading hours on Friday, hitting $4.29. The company's stock had a trading volume of 1,483,476 shares, compared to its average volume of 1,554,531. The stock has a market cap of $628.27 million, a price-to-earnings ratio of 12.60 and a beta of 2.64. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.70 and a current ratio of 0.73. Gannett Co., Inc. has a twelve month low of $2.55 and a twelve month high of $5.93. The firm has a fifty day moving average of $3.93 and a 200-day moving average of $3.57.

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

Gannett Company 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.