Gannett Co., Inc. $GCI Stake Increased by Silverberg Bernstein Capital Management LLC

Key Points

• Silverberg Bernstein Capital Management LLC has increased its stake in Gannett Co., Inc. by 27.7%, owning a total of 684,493 shares valued at approximately $2.45 million.
• Gannett reported an earnings per share (EPS) of $0.45 for the last quarter, exceeding analysts' expectations of a loss by $0.49.
• The company's stock has shown a range in the last 12 months, with a low of $2.55 and a high of $5.93, currently trading at around $4.38.

Silverberg Bernstein Capital Management LLC lifted its stake in Gannett Co., Inc. (NYSE:GCI - Free Report) by 27.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 684,493 shares of the company's stock after acquiring an additional 148,627 shares during the quarter. Gannett makes up 1.7% of Silverberg Bernstein Capital Management LLC's portfolio, making the stock its 15th biggest holding. Silverberg Bernstein Capital Management LLC owned 0.47% of Gannett worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GCI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 buying an additional 2,818 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Gannett by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 89,419 shares of the company's stock worth $258,000 after acquiring an additional 3,074 shares during the period. Cambiar Investors LLC lifted its position in shares of Gannett by 26.1% in the 1st quarter. Cambiar Investors LLC now owns 17,103 shares of the company's stock worth $49,000 after acquiring an additional 3,545 shares during the period. OneDigital Investment Advisors LLC lifted its position in shares of Gannett by 6.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 84,426 shares of the company's stock worth $244,000 after acquiring an additional 5,048 shares during the period. Finally, Virtue Capital Management LLC lifted its position in shares of Gannett by 6.8% in the 4th quarter. Virtue Capital Management LLC now owns 186,638 shares of the company's stock worth $944,000 after acquiring an additional 11,845 shares during the period. 76.71% of the stock is owned by institutional investors and hedge funds.

Gannett Price Performance

Shares of GCI stock opened at $4.38 on Tuesday. The company has a market capitalization of $642.20 million, a P/E ratio of 12.88 and a beta of 2.64. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 3.89. Gannett Co., Inc. has a 12 month low of $2.55 and a 12 month high of $5.93. The stock has a 50 day moving average of $3.99 and a two-hundred day moving average of $3.57.

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, topping analysts' consensus estimates of ($0.04) by $0.49. The firm had revenue of $584.86 million during the quarter, compared to analysts' expectations 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.

Want to see what other hedge funds are holding GCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gannett Co., Inc. (NYSE:GCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.