Do Hedge Funds Love Gannett Co Inc (GCI)?

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Consequently, key money managers were breaking ground themselves. Paul Marshall and Ian Wace’s Marshall Wace LLP assembled the most outsized position in Gannett Co Inc (NYSE:GCI). Marshall Wace LLP had $3.5 million invested in the company at the end of the quarter. Chuck Royce’s Royce & Associates also initiated a $1 million position during the quarter. The other funds with brand new GCI positions are Dennis Leibowitz’s Act II Capital, George Hall’s Clinton Group, and David Harding’s Winton Capital Management.

Let’s check out hedge fund activity in other stocks similar to Gannett Co., Inc. (NYSE:GCI). These stocks are Shutterfly, Inc. (NASDAQ:SFLY), OM Asset Management PLC (NYSE:OMAM), Sothebys (NYSE:BID), and Shutterstock Inc (NYSE:SSTK). This group of stocks’ market caps match GCI’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SFLY 23 460368 1
OMAM 12 63974 1
BID 20 559010 4
SSTK 9 36834 2

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $280 million. That figure was $66 million in GCI’s case. Shutterfly, Inc. (NASDAQ:SFLY) is the most popular stock in this table. On the other hand Shutterstock Inc (NYSE:SSTK) is the least popular one with only 9 bullish hedge fund positions. Gannett Co Inc (NYSE:GCI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SFLY might be a better candidate to consider taking a long position in.

Disclosure: None

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