Bill Miller is Betting on Gannett Co (GCI) Stock

Miller Value Partners recently released its Q2 2020 Investor Letter, a copy of which you can download here. In the second quarter, the Miller Income Strategy fund returned 21.7% versus 9.6% for the unmanaged benchmark. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.

In the said letter, Miller Value highlighted a few stocks and Gannett Co. Inc. (NYSE:GCI) is one of them. Gannett Co. Inc. (NYSE:GCI) is a media and marketing solutions company. Year-to-date, Gannett Co. Inc. (NYSE:GCI) stock lost 71.9% and on August 13th it had a closing price of $1.74. Miller Value cared to mention Gannett Co. Inc. (NYSE:GCI) in its investor letter, though they didn’t say why they really like the stock. All they said is this:

“Gannett (GCI) declined -39.5% during the time the Fund held the name, though Gannett reported Q1 results that were better than feared. Revenue of $948.7M and EBITDA of $99.1M both topped estimates of $945.5M and $97.5M, respectively. Management maintained both guidance of $100M-$125M in real estate sales and $300M in annual synergy savings by the end of 2021.”

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In Q1 2020, the number of bullish hedge fund positions on Gannett Co. Inc. (NYSE:GCI) stock decreased by about 41% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t seem to agree with Gannett’s growth potential. Our calculations showed that Gannett Co. Inc. (NYSE:GCI) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. Cannabis stocks are roaring back in 2020, so we are checking out this under-the-radar stock. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:

Disclosure: None. This article is originally published at Insider Monkey.