Philosophy Capital Management LLC Boosts Stake 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 boosted its holdings in Gannett Co., Inc. (NYSE:GCI - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,885,461 shares of the company's stock after acquiring an additional 528,970 shares during the quarter. Gannett accounts for approximately 1.2% of Philosophy Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Philosophy Capital Management LLC owned 4.02% of Gannett worth $17,009,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GCI. 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gannett in the 1st quarter valued at about $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Gannett in the 4th quarter valued at about $125,000. Aigen Investment Management LP lifted its position 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 acquiring an additional 29,116 shares in the last quarter. Finally, Teza Capital Management LLC bought a new position in Gannett in the 4th quarter valued at about $182,000. Institutional investors own 76.71% of the company's stock.

Gannett Stock Down 2.9%

NYSE:GCI traded down $0.13 on Monday, hitting $4.17. The stock had a trading volume of 768,853 shares, compared to its average volume of 1,545,637. 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 cap of $610.67 million, a P/E ratio of 12.25 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. The firm's fifty day simple moving average is $3.94 and its two-hundred day simple moving average is $3.56.

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

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.