Gannett Co Inc.’s recent filing unveils that its Director Tarica Laurence acquired Company’s shares for reported $0.37 million on Nov 16 ’23. In the deal valued at $1.85 per share,200,000 shares were bought. As a result of this transaction, Tarica Laurence now holds 1,008,799 shares worth roughly $2.51 million.
Then, Reed Michael bought 60,000 shares, generating $120,600 in total proceeds. Upon buying the shares at $2.01, the Chief Executive Officer now owns 3,304,323 shares.
Before that, Reed Michael bought 80,000 shares. Gannett Co Inc. shares valued at $263,200 were divested by the Chief Executive Officer at a price of $3.29 per share. As a result of the transaction, Reed Michael now holds 3,244,323 shares, worth roughly $8.08 million.
Compass Point initiated its Gannett Co Inc. [GCI] rating to a Buy in a research note published on December 12, 2023; the price target was $5. Citigroup also remained covering GCI and has decreased its forecast on April 06, 2020 with a “Sell” recommendation from previously “Buy” rating. JP Morgan revised its rating on July 06, 2018. It rated GCI as “an Underweight” which previously was an “a Neutral”.
Price Performance Review of GCI
On Monday, Gannett Co Inc. [NYSE:GCI] saw its stock jump 6.41% to $2.49. Over the last five days, the stock has gained 6.87%. Gannett Co Inc. shares have risen nearly 8.26% since the year began. Nevertheless, the stocks have risen 50.91% over the past one year. While a 52-week high of $3.60 was reached on 01/26/24, a 52-week low of $1.62 was recorded on 03/05/24. SMA at 50 days reached $2.23, while 200 days put it at $2.41. A total of 0.74 million shares were traded, compared to the trading of 88684.0 shares in the previous session.
Levels Of Support And Resistance For GCI Stock
The 24-hour chart illustrates a support level at 2.38, which if violated will result in even more drops to 2.28. On the upside, there is a resistance level at 2.55. A further resistance level may holdings at 2.62. The Relative Strength Index (RSI) on the 14-day chart is 66.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 3.70%. Stochastics %K at 80.18% indicates the stock is a selling.
How much short interest is there in Gannett Co Inc.?
A steep rise in short interest was recorded in Gannett Co Inc. stocks on Mar 15, 2024, growing by 0.86 million shares to a total of 16.12 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 15.26 million shares. There was a rise of 5.33%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 13.53% of the overall stock float, the days-to-cover ratio (short ratio) rose to 22.16.
