The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $1.66 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.
Analyzing GCI Stock Performance
On Thursday, Gannett Co. Inc. [NYSE: GCI] rose 1.85% to $2.20. The stock’s lowest price that day was $2.08, but it reached a high of $2.21 in the same session. During the last five days, there has been a drop of approximately -3.08%. Over the course of the year, Gannett Co. Inc. shares have jumped approximately 8.37%. Shares of the company reached a 52-week high of $3.22 on 02/23/23 and a 52-week low of $1.62 on 05/04/23. A 50-day SMA is recorded $1.92, while a 200-day SMA reached $2.10. Nevertheless, trading volume fell to 0.53 million shares from 0.5 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 2.12, which, if violated, would cause prices to drop to 2.03. In the upper region, resistance lies at 2.25. The next price resistance is at 2.29. RSI (Relative Strength Index) is 57.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 23.53%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Gannett Co. Inc. subject to short interest?
Stocks of Gannett Co. Inc. saw a sharp rise in short interest on Apr 27, 2023 jumping by 50000.0 shares to 13.86 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 13.81 million shares. A jump of 0.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 19.48 of the overall float, the days-to-cover ratio (short ratio) jumped to 19.48.
Which companies own the most shares of Gannett Co. Inc. (GCI)?
According to BlackRock Fund Advisors filings, the company currently owns 22,098,840 shares, which is about 15.16% of the total GCI shares outstanding. The investor’s shares have plunged by -48,780 from its previous 13-F filing of 22147620.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $21,388,547. The Vanguard Group, Inc. reduced a -1.02% interest valued at $19.88 million while Alta Fundamental Advisers LLC purchased a 95,000 stake. A total of 212,006 shares of Gannett Co. Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 19,761 were bought by Goldman Sachs & Co. LLC. In its current portfolio, Dimensional Fund Advisors LP holds 3,840,483 shares valued at $7.3 million.
In terms of Gannett Co. Inc. share price expectations, FactSet research, analysts set an average price target of $2.15 in the next 12 months, down nearly -0.46% from the previous closing price of $2.16. Analysts anticipate Gannett Co. Inc. stock to reach $2.50 by 2023, with the lowest price target being $1.80. In spite of this, 2 analysts ranked Gannett Co. Inc. stock as a Sell at the end of 2023.