Dark Forest Capital Management LP Cuts Position in Gannett Co., Inc. (NYSE:GCI)

On March 23, 2021, Dark Forest Capital Management LP announced that it had cut its position in Gannett Co., Inc. (NYSE: GCI) by approximately 50%. The company is a media and marketing services provider that operates in the United States.

According to a filing with the Securities and Exchange Commission (SEC), Dark Forest Capital Management LP held approximately 12.6 million shares of Gannett Co., Inc. as of December 31, 2020. After cutting its position, the company now holds approximately 6.3 million shares.

The reason for the cut in position was not disclosed in the filing. However, it is possible that the decision was made based on a review of the company's financial performance or other factors.

It is worth noting that Dark Forest Capital Management LP is a hedge fund that specializes in investing in media and entertainment companies. The company has a history of making strategic investments in the industry and has previously held positions in other media companies, including Cablevision Systems Corporation (NYSE: CVC) and Charter Communications, Inc. (NASDAQ: CHTR).

Overall, the cut in position by Dark Forest Capital Management LP may be seen as a signal of the fund's confidence in Gannett Co., Inc.'s ability to perform well in the future. However, it is important to note that hedge funds often make investment decisions based on a variety of factors and their positions can change over time.