Examining the Potential Price Growth of Gannett Co. Inc. (GCI)


Gannett Co. Inc.’s recently made public that its Chief Executive Officer Reed Michael acquired Company’s shares for reported $0.26 million on Aug 14. In the deal valued at $3.29 per share,80,000 shares were bought. As a result of this transaction, Reed Michael now holds 3,244,323 shares worth roughly $ 9.57 million.

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Then, Tarica Laurence bought 100,000 shares, generating $225,000 in total proceeds. Upon buying the shares at $2.25, the Director now owns 753,244 shares.

PT values the company’s stock at a premium of 22.37 to its Friday closing price.

Price Performance Review of GCI

On Friday, Gannett Co. Inc. [NYSE:GCI] saw its stock jump 1.37% to $2.95. On the same session, the stock had its day’s lowest price of $2.89, but rose to a high of $3.015. Over the last five days, the stock has gained 7.27%. Gannett Co. Inc. shares have risen nearly 45.32% since the year began. Nevertheless, the stocks have risen 27.16% over the past one year. While a 52-week high of $3.60 was reached on 08/11/23, a 52-week low of $1.25 was recorded on 05/04/23. SMA at 50 days reached $2.76, while 200 days put it at $2.33. A total of 0.76 million shares were traded, compared to the trading of 0.79 million shares in the previous session.

Levels Of Support And Resistance For GCI Stock

The 24-hour chart illustrates a support level at 2.89, which if violated will result in even more drops to 2.83. On the upside, there is a resistance level at 3.01. A further resistance level may holdings at 3.08. The Relative Strength Index (RSI) on the 14-day chart is 51.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.28%. Stochastics %K at 26.60% indicates the stock is a holding.

How much short interest is there in Gannett Co. Inc.?

A steep rise in short interest was recorded in Gannett Co. Inc. stocks on Aug 14, 2023, growing by 1.2 million shares to a total of 15.42 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 14.22 million shares. There was a rise of 7.78%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.91% of the overall stock float, the days-to-cover ratio (short ratio) rose to 13.32.

Gannett Co. Inc. [GCI] – Who Are The Largest Shareholders?

In filings from Alta Fundamental Advisers LLC, it is revealed that the company now owns 13,146,482 shares, or roughly 8.82% of the outstanding GCI shares. In other words, the investor’s shares have risen by 5,318,900 from its previous 13-F filing of 7827582.0. Additionally, BlackRock Fund Advisors decreased -58.37% of its stake after which the total value it holdings stand at $25,943,492, while The Vanguard Group, Inc. reduced -22.39% of its stake to hold $22.9 million in the firm. Over the last quarter, Goldman Sachs & Co. LLC purchased 1,931,161 shares of Gannett Co. Inc., while Millennium Management LLC bought 4,063,449 shares. At present, Fidelity Management & Research Co is holding 3,916,566 shares valued at $11.04 million. SSgA Funds Management, Inc. owned 3,855,437 shares of the company at the time of its most recent 13F filing, worth $10.87 million.

However, 2 analysts have rated GCI stock as a Sell in their predictions for 2023.


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