Bullish Gannett Insiders Loaded Up On US$753.8k Of Stock
Generally, when a single insider buys stock, it is usually not a big deal. However, when several insiders are buying, like in the case of Gannett Co., Inc. (NYSE:GCI), it sends a favourable message to the company's shareholders.
While insider transactions are not the most important thing when it comes to long-term investing, logic dictates you should pay some attention to whether insiders are buying or selling shares.
Check out our latest analysis for Gannett
The Last 12 Months Of Insider Transactions At Gannett
In the last twelve months, the biggest single purchase by an insider was when Independent Director Laurence Tarica bought US$370k worth of shares at a price of US$1.85 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of US$2.07. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
Gannett insiders may have bought shares in the last year, but they didn't sell any. They paid about US$2.22 on average. I'd consider this a positive as it suggests insiders see value at around the current price. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Gannett insiders own 10.0% of the company, worth about US$29m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The Gannett Insider Transactions Indicate?
It doesn't really mean much that no insider has traded Gannett shares in the last quarter. On a brighter note, the transactions over the last year are encouraging. Insiders own shares in Gannett and we see no evidence to suggest they are worried about the future. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Gannett.
But note: Gannett may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
