Miller Value Partners - Gannett: Significant Price-To-Value Gap And Long-Term Upside Potential

Nov. 07, 2022 7:50 PM ETGannett Co., Inc. (GCI)2 Comments

Summary

  • Gannett’s recent results were disappointing.
  • GCI's ongoing growth initiatives remain on track.
  • Gannett is expected to maintain ongoing debt reduction which should unlock significant equity value over time.
  • With GCI stock price near all-time lows, we see a significant price-to-value gap and believe long-term upside potential remains at multiples of the current price level.

USA Today Removes Over 20 Stories From Reporter After Internal Investigation Over Quotes In Articles

Win McNamee

The following segment was excerpted from this fund letter.


Gannett Co., Inc. (NYSE:GCI)

Gannett’s recent results were disappointing, as ongoing secular headwinds that face the newspaper portion of the business weakened further. In addition, ongoing inflation (newsprint, paper, delivery, and wages) added $50M in incremental costs

This article was written by

Single stock ideas excerpted from fund letters published by Seeking Alpha.

Additional disclosure: ©2022 Miller Value Partners, LLC

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