After boosting its stake just last year, Gannett's single-biggest investor sold most its nearly 31 million shares as of April 30, the money management firm said in a new U.S. Securities and Exchange Commission notice, moments ago. As is customary for such filings, the notice by AllianceBernstein parent AXA Financial does not include any explanation for the action. The money manager's ownership at:Dec. 31, 2008
Shares: 30.8 million
Stock price: $8.00
April 30, 2009
Shares: 952,828
Stock price: $3.91
We now know that rival institutional money manager Ariel Investments of Chicago apparently was buying, as AXA was selling.
Please post your replies in the comments section, below. To e-mail confidentially, write gannettblog[at]gmail[dot-com]; see Tipsters Anonymous Policy in the green rail, upper right.
Rats are jumping ship. Big iceberg is coming in the form of huge debt load that corporate cannot throw over the side.
ReplyDeleteWell it certainly made good things happen to the price of Gannett stock. GCI has been up nicely since the beginning of May.
ReplyDelete