Apollo Management Holdings L.P. Has $60.35 Million Position in Gannett Co., Inc. (NYSE:GCI)

Apollo Management Holdings L.P. decreased its position in Gannett Co., Inc. (NYSE:GCI) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,925,911 shares of the company’s stock after selling 276,548 shares during the quarter. Gannett comprises 0.8% of Apollo Management Holdings L.P.’s holdings, making the stock its 9th largest position. Apollo Management Holdings L.P. owned 0.08% of Gannett worth $60,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GCI. Vanguard Group Inc. boosted its stake in shares of Gannett by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 8,093,262 shares of the company’s stock valued at $40,952,000 after purchasing an additional 82,094 shares during the period. Dimensional Fund Advisors LP boosted its position in Gannett by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,968,839 shares of the company’s stock valued at $25,141,000 after buying an additional 215,965 shares during the period. Miller Value Partners LLC boosted its position in Gannett by 74.8% during the 4th quarter. Miller Value Partners LLC now owns 2,396,625 shares of the company’s stock valued at $12,127,000 after buying an additional 1,025,190 shares during the period. Renaissance Technologies LLC boosted its position in Gannett by 17.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,551,020 shares of the company’s stock valued at $7,848,000 after buying an additional 233,420 shares during the period. Finally, Northern Trust Corp boosted its position in Gannett by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,421,230 shares of the company’s stock valued at $7,191,000 after buying an additional 171,563 shares during the period. Institutional investors own 76.71% of the company’s stock.

Gannett Stock Performance

Shares of GCI opened at $3.42 on Wednesday. The stock has a market capitalization of $500.81 million, a P/E ratio of -6.33 and a beta of 2.21. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59. The firm has a fifty day simple moving average of $3.27 and a two-hundred day simple moving average of $4.47. Gannett Co., Inc. has a twelve month low of $2.35 and a twelve month high of $5.93.

Gannett (NYSE:GCI) last posted its earnings results on Thursday, February 20th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%. The firm had revenue of $621.28 million during the quarter, compared to analysts’ expectations of $635.09 million.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market outperform” rating and set a $6.00 price target on shares of Gannett in a research report on Monday, January 27th.

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.