Icahn Carl C Exits Position in Gannett Co Inc (GCI)

Gannett Co Inc (GCI) : Icahn Carl C 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 Aug 15, 2016 with the SEC. The investment management company has sold out 6,502,574 shares of Gannett Co Inc which is valued at $75,754,987.

Other Hedge Funds, Including , Fmr reduced its stake in GCI by selling 694,902 shares or 29.58% in the most recent quarter. The Hedge Fund company now holds 1,654,657 shares of GCI which is valued at $19,276,754.Pinebridge Investments boosted its stake in GCI in the latest quarter, The investment management firm added 593 additional shares and now holds a total of 14,777 shares of Gannett Co Inc which is valued at $172,152. Gannett Co Inc makes up approx 0.01% of Pinebridge Investments’s portfolio.Lsv Asset Management boosted its stake in GCI in the latest quarter, The investment management firm added 7,850 additional shares and now holds a total of 2,773,447 shares of Gannett Co Inc which is valued at $34,030,195. Gannett Co Inc makes up approx 0.07% of Lsv Asset Management’s portfolio.

Gannett Co Inc (GCI) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $11.78 and reached the intraday high at $11.89. The bulls started the profit booking and pushed the shares to intraday low of $11.67. The trading session was marked by a volume range of 9,40,799 shares exchanging hands. The 52-week high of the shares is $17.91 and the 52-week low is $11.52. The market cap of the company stands at $1,372 M and there are 11,65,39,796 shares in public circulation.

On the company’s financial health, Gannett Co Inc reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.31. The company had revenue of $748.79 million for the quarter, compared to analysts expectations of $775.78 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 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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