Gannett Shares Jump 4% As Insiders Report Direct Acquisitions

Gannett Co Inc GCI experienced two insider buys over the past two trading days.

On Friday, Gannett Director Louis John Jeffry purchased 33,600 Shares at $7.78 per share, adding $261,408 to his total equity. On Monday, Gannet SVP and CFO Allison Engel purchased 6,400 shares at $7.8081 per share, adding nearly $50,000 to her total equity.

Shares of Gannett were trading down around 50 percent year-to-date and around 30 percent over the past month following two earnings misses and a drawn-out attempt to acquire tronc Inc TRNC, formerly Tribune Company.

Insiders buying stock can be an indication of where they feel the price may be going from there.

At time of writing, shares of Gannett were trading up around 3.7 percent at $8.11.