Ariel Investments owned 11.5 million Gannett shares as of Dec. 31, the Chicago money manager said in a federal regulatory filing today, down significantly from 14.9 million a year ago.
That reduced its stake of all GCI shares to 4.8% from 6.2%, according to its annual notice to the U.S. Securities and Exchange Commission.
Ariel's filing follows similar reports this week and last by three other big other money managers: BlackRock, AllianceBernstein, and Vanguard.
Managers such as these are typically passive investors, rarely agitating for management changes.
GCI's stock closed today at $14.81, down 9 cents, or less than 1%.
That reduced its stake of all GCI shares to 4.8% from 6.2%, according to its annual notice to the U.S. Securities and Exchange Commission.
Ariel's filing follows similar reports this week and last by three other big other money managers: BlackRock, AllianceBernstein, and Vanguard.
Managers such as these are typically passive investors, rarely agitating for management changes.
GCI's stock closed today at $14.81, down 9 cents, or less than 1%.
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