Cooperman Leon G Has $14.73 Million Position in Gannett Co., Inc. $GCI

Key Points

• Cooperman Leon G has acquired an additional 289,867 shares of Gannett Co., Inc., increasing its stake by 6.0% in the first quarter, bringing its total holdings to approximately 5,097,200 shares.
• Institutional investors hold 76.71% of Gannett's stock, with Deutsche Bank AG and Nuveen Asset Management notably increasing their stakes by 350.6% and 68.5% respectively in recent quarters.
• Gannett recently reported earnings of $0.45 per share, surpassing estimates, although revenue of $584.86 million fell short of expectations.

Cooperman Leon G increased its holdings in Gannett Co., Inc. (NYSE:GCI - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,097,200 shares of the company's stock after purchasing an additional 289,867 shares during the period. Gannett makes up 0.6% of Cooperman Leon G's portfolio, making the stock its 29th biggest position. Cooperman Leon G owned about 3.48% of Gannett worth $14,731,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC raised its position in shares of Gannett by 313.5% during the first quarter. Cubist Systematic Strategies LLC now owns 215,295 shares of the company's stock worth $622,000 after acquiring an additional 163,229 shares during the last quarter. Nomura Holdings Inc. raised its holdings in Gannett by 757.5% in the first quarter. Nomura Holdings Inc. now owns 428,766 shares of the company's stock worth $1,239,000 after purchasing an additional 378,766 shares during the period. MYDA Advisors LLC bought a new stake in shares of Gannett in the first quarter worth about $289,000. Algert Global LLC increased its stake in Gannett by 4.9% during the 1st quarter. Algert Global LLC now owns 263,460 shares of the company's stock worth $761,000 after purchasing an additional 12,410 shares in the last quarter. Finally, Cambiar Investors LLC lifted its position in Gannett by 26.1% in the 1st quarter. Cambiar Investors LLC now owns 17,103 shares of the company's stock valued at $49,000 after acquiring an additional 3,545 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Gannett Stock Up 4.3%

Gannett stock traded up $0.18 during midday trading on Friday, reaching $4.29. The stock had a trading volume of 1,483,476 shares, compared to its average volume of 1,554,531. The firm's fifty day simple moving average is $3.93 and its 200-day simple moving average is $3.58. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.70 and a current ratio of 0.73. The stock has a market capitalization of $628.25 million, a P/E ratio of 12.60 and a beta of 2.64. Gannett Co., Inc. has a 1-year low of $2.55 and a 1-year high of $5.93.

Gannett (NYSE:GCI - Get Free Report) last released its 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 business had revenue of $584.86 million during the quarter, compared to the consensus estimate of $593.13 million. Gannett had a net margin of 4.84% and a return on equity of 53.24%.

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.