Gannett Co Inc. [GCI] Director makes an insider purchase of 50,000 shares worth 0.23 million.

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 Sep 13 ’24. At $4.50 per share, Tarica Laurence acquired 50,000 shares. The insider’s holdings grew to 1,089,663 shares worth approximately $6.04 million following the completion of this transaction.

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Also, Tarica Laurence purchased 200,000 shares, netting a total of over 370,000 in proceeds. Following the buying of shares at $1.85 each, the insider now holds 1,008,799 shares.

Before that, Reed Michael had added 60,000 shares to its account. In a trade valued at $120,600, the Chief Executive Officer bought Gannett Co Inc. shares for $2.01 each. Upon closing the transaction, the insider’s holdings increased to 60,000 shares, worth approximately $18.31 million.

As published in a research note from Citigroup on September 17, 2024, Gannett Co Inc. [GCI] has been rated up from a Sell to a Neutral and the price target has been revised to $5.10. Analysts at Citigroup downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in late August. As of July 01, 2024, JMP Securities has initiated its “Mkt outperform” rating for GCI. Earlier on May 24, 2024, Citigroup upgraded its rating. Their new recommendation was “a Neutral” for GCI stock which previously was a “a Sell”.

Analyzing GCI Stock Performance

During the last five days, there has been a drop of approximately -2.64%. Over the course of the year, Gannett Co Inc. shares have jumped approximately 140.87%. Nevertheless, trading volume fell to 0.92 million shares from 0.74 million shares the previous day.