Philosophy Capital Management LLC Increases Position in Gannett Co., Inc. $GCI

Key Points

• Philosophy Capital Management LLC increased its stake in Gannett Co., Inc. by 9.9%, owning approximately 5.88 million shares after adding 528,970 shares in the first quarter.
• Institutional investors and hedge funds collectively own 76.71% of Gannett's stock, with notable increases in holdings from other firms such as Cambiar Investors LLC and Aigen Investment Management LP.
• Gannett reported $0.45 earnings per share for the last quarter, significantly exceeding the consensus estimate of ($0.04), despite revenues falling short of projections.

Philosophy Capital Management LLC grew its position in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,885,461 shares of the company's stock after purchasing an additional 528,970 shares during the period. Gannett makes up approximately 1.2% of Philosophy Capital Management LLC's investment portfolio, making the stock its 19th biggest position. Philosophy Capital Management LLC owned 4.02% of Gannett worth $17,009,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cambiar Investors LLC grew its position in shares of Gannett by 26.1% during the first 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 purchased a new position in shares of Gannett during the first quarter valued at about $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gannett during the fourth quarter valued at about $125,000. Teza Capital Management LLC purchased a new position in shares of Gannett during the fourth quarter valued at about $182,000. Finally, Numerai GP LLC purchased a new position in shares of Gannett during the fourth quarter valued at about $196,000. Hedge funds and other institutional investors own 76.71% of the company's stock.

Gannett Price Performance

Shares of Gannett stock traded up $0.16 during trading on Thursday, reaching $4.26. 264,748 shares of the stock traded hands, compared to its average volume of 1,570,795. The company has a market capitalization of $623.87 million, a price-to-earnings ratio of 12.52 and a beta of 2.64. The business has a fifty day simple moving average of $3.95 and a two-hundred day simple moving average of $3.57. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.73 and a quick ratio of 0.70. Gannett Co., Inc. has a 52-week low of $2.55 and a 52-week high of $5.93.

Gannett (NYSE:GCI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.45 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 firm had revenue of $584.86 million during the quarter, compared to the consensus estimate of $593.13 million.

About Gannett

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.