New South Capital Management Inc buys $144 Million stake in Gannett Co Inc (GCI)

Gannett Co Inc (GCI) : New South Capital Management Inc scooped up 243,632 additional shares in Gannett Co Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 9,212,560 shares of Gannett Co Inc which is valued at $144 Million.Gannett Co Inc makes up approximately 3.49% of New South Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Comerica Bank boosted its stake in GCI in the latest quarter, The investment management firm added 1,407 additional shares and now holds a total of 118,210 shares of Gannett Co Inc which is valued at $1.8 Million. Gannett Co Inc makes up approx 0.02% of Comerica Bank’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in GCI in the latest quarter, The investment management firm added 4,700 additional shares and now holds a total of 2,767,508 shares of Gannett Co Inc which is valued at $43.3 Million. Gannett Co Inc makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio. Checchi Capital Advisers added GCI to its portfolio by purchasing 2,151 company shares during the most recent quarter which is valued at $34,696. Gannett Co Inc makes up approx 0.01% of Checchi Capital Advisers’s portfolio. Rothschild Investment Corp Il sold out all of its stake in GCI during the most recent quarter. The investment firm sold 15,026 shares of GCI which is valued $253,188.

Gannett Co Inc opened for trading at $15.52 and hit $16.14 on the upside on Monday, eventually ending the session at $15.98, with a gain of 2.24% or 0.35 points. The heightened volatility saw the trading volume jump to 9,21,976 shares. Company has a market cap of $1,862 M.

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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