Everence Capital Management Inc Exits Position in Gannett Co Inc (GCI)

Gannett Co Inc (GCI) : Everence Capital Management Inc has sold out all of its stake in Gannett Co Inc during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 15,975 shares of Gannett Co Inc which is valued at $251,926.

Gannett Co Inc opened for trading at $16.55 and hit $17.6 on the upside on Wednesday, eventually ending the session at $17.56, with a gain of 7.14% or 1.17 points. The heightened volatility saw the trading volume jump to 18,74,757 shares. Company has a market cap of $2,038 M.

Other Hedge Funds, Including , Meritage Portfolio Management boosted its stake in GCI in the latest quarter, The investment management firm added 171,445 additional shares and now holds a total of 303,395 shares of Gannett Co Inc which is valued at $4,784,539. Gannett Co Inc makes up approx 0.54% of Meritage Portfolio Management’s portfolio.Acadian Asset Management reduced its stake in GCI by selling 133,178 shares or 3.14% in the most recent quarter. The Hedge Fund company now holds 4,111,482 shares of GCI which is valued at $63,933,545. Gannett Co Inc makes up approx 0.32% of Acadian Asset Management’s portfolio.Capstone Asset Management Co reduced its stake in GCI by selling 1,290 shares or 3.2% in the most recent quarter. The Hedge Fund company now holds 38,971 shares of GCI which is valued at $605,999. Gannett Co Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Proficio Capital Partners added GCI to its portfolio by purchasing 34 company shares during the most recent quarter which is valued at $523.

On the company’s financial health, Gannett Co Inc reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.17. The company had revenue of $659.40 million for the quarter, compared to analysts expectations of $672.40 million. The company’s revenue was down -55.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Gannett Co. Inc. formerly Gannett Spinco Inc. is a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through Broadcasting and Digital segments. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search social media and Website development among others. The Company offers its services in a range of geographies demographics and content areas. The Company provides consumers with the information and entertainment and connects consumers to their communities through various platforms such as television stations desktop smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. Its Digital business segment includes Cars.com CareerBuilder PointRoll and Shoplocal.

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