Will Gannett Co., Inc. (GCI) Burn These Bullish Hedge Funds?

As one would reasonably expect, specific money managers have been driving this bullishness. D E Shaw established the biggest position in Gannett Co., Inc. (NYSE:GCI). Arrowstreet Capital also made a $13.5 million investment in the stock during the quarter. The other funds with new positions in the stock are Millennium Management, Joel Greenblatt’s Gotham Asset Management, and Gordy Holterman and Derek Dunn’s Overland Advisors.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Gannett Co., Inc. (NYSE:GCI) but similarly valued. We will take a look at Mueller Industries, Inc. (NYSE:MLI), DuPont Fabros Technology, Inc. (NYSE:DFT), Planet Fitness Inc (NYSE:PLNT), and Healthequity Inc (NASDAQ:HQY). This group of stocks’ market values are closest to GCI’s market value.

As you can see these stocks had an average of 14.75 hedge funds with bullish positions and the average amount invested in these stocks was $155 million. That figure was $183 million in GCI’s case. Mueller Industries, Inc. (NYSE:MLI) is the most popular stock in this table. On the other hand Healthequity Inc (NASDAQ:HQY) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Gannett Co., Inc. (NYSE:GCI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.