Billionaire Investor Leon Cooperman May Be Retired, but He's Still Betting on This Stock
Gannett (NYSE: GCI), parent company of USA Today and the largest news publisher in the country, is typically not known for having eventful earnings calls. In fact, sometimes there isn't a single analyst on the call, as the stock is undercovered by the Street.
That's why I was pretty surprised when, during the Q&A session of the call, retired billionaire investor Leon Cooperman jumped on and made some comments and asked management several questions. In a filing with the Securities and Exchange Commission from April 2020, the most recent one I could find, Cooperman reported owning 2.94% of outstanding shares of Gannett, revealing he had sold a big chunk of shares in the company at the time.
But considering these disclosures are only required if an investor owns more than 5% of outstanding shares, it's been hard to know Cooperman's current status as it relates to Gannett. Apparently, he's still betting on the stock.
Source Fool.com
