A company insider recently bought 100,000 shares of Gannett Co. Inc. [GCI]. Should You Buy?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gannett Co. Inc. shares valued at $225,000 were purchased by Tarica Laurence on Dec 14. At $2.25 per share, Tarica Laurence acquired 100,000 shares. The insider’s holdings grew to 753,244 shares worth approximately $1.57 million following the completion of this transaction.

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Also, Reed Michael purchased 500,000 shares, netting a total of over 1,220,000 in proceeds. Following the buying of shares at $2.44 each, the insider now holds 1,836,335 shares.

Before that, Louis John Jeffry had sold 7,604 shares from its account. In a trade valued at $27,679, the Director traded Gannett Co. Inc. shares for $3.64 each. Upon closing the transaction, the insider’s holdings decreased to 7,604 shares, worth approximately $0.0.

Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Sell”‘ outlook in a report released in early April. As of July 06, 2018, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for GCI. Earlier on February 13, 2017, Argus downgraded its rating. Their new recommendation was “a Hold” for GCI stock which previously was a “a Buy”.

Analyzing GCI Stock Performance

On Wednesday, Gannett Co. Inc. [NYSE: GCI] plunged -3.24% to $2.09. The stock’s lowest price that day was $2.035, but it reached a high of $2.12 in the same session. During the last five days, there has been a drop of approximately -19.31%. Over the course of the year, Gannett Co. Inc. shares have jumped approximately 2.96%. Shares of the company reached a 52-week high of $3.22 on 02/23/23 and a 52-week low of $1.99 on 01/20/23. A 50-day SMA is recorded $2.45, while a 200-day SMA reached $2.38. Nevertheless, trading volume fell to 0.94 million shares from 1.39 million shares the previous day.

Support And Resistance Levels for Gannett Co. Inc. (GCI)

According to the 24-hour chart, there is a support level at 2.04, which, if violated, would cause prices to drop to 2.00. In the upper region, resistance lies at 2.13. The next price resistance is at 2.17. RSI (Relative Strength Index) is 35.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.53, which suggests the price will decrease in the coming days. Percent R is at 95.28%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Gannett Co. Inc. subject to short interest?

Stocks of Gannett Co. Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -2.42 million shares to 13.47 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 15.89 million shares. A decline of -17.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 11.28 of the overall float, the days-to-cover ratio (short ratio) decline to 11.28.

Which companies own the most shares of Gannett Co. Inc. (GCI)?

According to BlackRock Fund Advisors filings, the company currently owns 22,147,620 shares, which is about 15.16% of the total GCI shares outstanding. The investor’s shares have appreciated by 348,234 from its previous 13-F filing of 21799386.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $32,030,818. Fidelity Management & Research Co acquire a 10.31% interest valued at $28.15 million while Alta Fundamental Advisers LLC purchased a 825,000 stake. A total of -59,178 shares of Gannett Co. Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 75,560 were bought by Goldman Sachs & Co. LLC. In its current portfolio, Dimensional Fund Advisors LP holds 3,496,229 shares valued at $10.59 million.

In terms of Gannett Co. Inc. share price expectations, FactSet research, analysts set an average price target of $2.55 in the next 12 months, up nearly 18.06% from the previous closing price of $2.16. Analysts anticipate Gannett Co. Inc. stock to reach $2.60 by 2023, with the lowest price target being $2.50. In spite of this, 2 analysts ranked Gannett Co. Inc. stock as a Sell at the end of 2023. On November 02, 2016, Noble Financial assigned a price target of “a Buy” to the stock and reiterated coverage with a $16.


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