Sullivan Wood Capital Management LLC Purchases New Holdings in Gannett Co., Inc. $GCI

Key Points

• Sullivan Wood Capital Management LLC acquired a new stake in Gannett Co., Inc., purchasing 188,750 shares valued at approximately $676,000, which now constitutes 1.4% of its portfolio.
• Gannett's stock opened at $4.15 and has seen significant price fluctuations over the past year, with a twelve-month low of $2.55 and a high of $5.91.
• In its latest earnings report, Gannett posted earnings per share of $0.45, surpassing analysts' expectations, although its revenue of $584.86 million fell short of the consensus estimate of $593.13 million.

Sullivan Wood Capital Management LLC purchased a new stake in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 188,750 shares of the company's stock, valued at approximately $676,000. Gannett comprises 1.4% of Sullivan Wood Capital Management LLC's portfolio, making the stock its 13th biggest position. Sullivan Wood Capital Management LLC owned 0.13% of Gannett at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GCI. Nuveen LLC purchased a new stake in shares of Gannett during the first quarter valued at approximately $6,434,000. SG Americas Securities LLC increased its position in shares of Gannett by 10,205.0% during the first quarter. SG Americas Securities LLC now owns 2,198,271 shares of the company's stock valued at $6,353,000 after acquiring an additional 2,176,939 shares during the last quarter. Philosophy Capital Management LLC grew its position in shares of Gannett by 9.9% during the 1st quarter. Philosophy Capital Management LLC now owns 5,885,461 shares of the company's stock valued at $17,009,000 after acquiring an additional 528,970 shares during the period. Invst LLC bought a new position in shares of Gannett during the 1st quarter valued at approximately $1,134,000. Finally, Nomura Holdings Inc. grew its position in shares of Gannett by 757.5% during the 1st quarter. Nomura Holdings Inc. now owns 428,766 shares of the company's stock valued at $1,239,000 after acquiring an additional 378,766 shares during the period. 76.71% of the stock is owned by hedge funds and other institutional investors.

Gannett Stock Down 1.1%

Gannett stock opened at $4.15 on Friday. Gannett Co., Inc. has a twelve month low of $2.55 and a twelve month high of $5.91. The firm has a 50 day moving average price of $4.13 and a 200-day moving average price of $3.64. The company has a market capitalization of $607.74 million, a P/E ratio of 12.19 and a beta of 2.55. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 3.89.

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. 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.

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.

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.