Investors Doesn’t Hate Gannett Co., Inc. (GCI) Anymore

On December 03, 2019, Gannett Co., Inc. (NYSE:GCI) shares gained 0.46% or 0.03 points to close at $6.52 with a heavy trading volume of 3.48 million shares. It opened the trading session at $6.4, the shares rose to $6.54 and dropped to $6.32, the range by which the price of stock traded the whole day. The company now has a market cap of $788 million and currently has 120.79 million outstanding shares. Gannett Co., Inc. (GCI) stock has plunged -23.11 percent of market value in 21 trading days.

GCI stock’s trailing 3-year beta is 0.99, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.22 share in the trailing 52 weeks. The stock’s value fallen -43.65 percent year to date (YTD) compared to a decline of -50.61 percent in 52 week’s period. The firm’s shares are still trading -53.79 percent below its 1-year high of $14.11 and 4.82 percent up from 52-week low of $6.22. The average consensus ranking on the company is 1, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a buy.

Gannett Co., Inc. (GCI) is most likely going to rise 68.71 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $11-month high price target. This represents a whopping 68.71 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $11, which means a return possibility of 68.71 percent in comparison with the closing price of the stock of $6.52 on December 03. The lowest price set for the stock is $11 — just above 68.71 percent from GCI share price now.

Past records have indicated that shares in Gannett Co., Inc. declined on 25 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.

Let’s take a glimpse at some insider activity at Gannett Co., Inc. (NYSE:GCI) and observe the pattern. The earliest insider trade happened on 11/22/2019. MILLER MARIA M gathered a total of 8 thousand shares of the firm at average share price of $6.59. The total amount for the purchase was set at $52.72 thousand. On completing this exchange, the Director account balance was 8 thousand shares. The stock lost -1.06 percent from that insider purchase. On 11/21/2019, Reed Michael, CEO, did a purchase of 285 thousand shares at a price of $6.61 per share. This increased 1.88 million shares to the insider’s fortune and the stock experienced a -1.36 percent retreat in price since the news became public. This exchange saw 912.36 thousand shares get into the CEO account.

On 08/17/2018, Chief Marketing Officer Yost Andrew T. recorded a sale transaction valued at $36.09 thousand. The sale at $10.31 a share has eliminated 3.5 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed -36.76 percent decrease since the transaction reporting date. The company insider is left with 6.16 thousand shares remaining in the account. Faure Walker Henry K., who works as CEO of Newsquest Media Group at the company, performed a sale of 0.34 thousand shares in a transaction worth $3.46 thousand. The disposal recorded on 08/17/2018 was priced at $10.28 per share. The stock price plunged -36.58 percent since the transaction. Faure Walker Henry K. currently holds a stake of 1.01 thousand in GCI stock which is worth $6.61 thousand after the insider selling.

The stock is lingering around the initial support level of $6.38. After this, the following support is at the zone of $6.24. Up until the time the GCI stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 37.65 on the daily chart, and this may be a cause for comfort. In case the price goes below $6.24 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $6.6 level may cause a pull-back move approaching $6.68 mark.