Interactive Brokers shares jump as it secures spot in S&P 500
Gannett Co ., Inc. (NYSE:GCI) Chief Executive Officer Michael Reed has recently increased his stake in the company through a series of stock purchases. With the stock currently trading at $3.15 and showing an "FAIR" rating on InvestingPro’s comprehensive health assessment, this insider activity has caught market attention. According to the latest SEC filings, Reed acquired a total of 33,000 shares of Gannett common stock over two consecutive days. On May 5, he purchased 27,000 shares at a price of $3.25 each, and on May 6, he bought an additional 6,000 shares at $3.20 per share. The total value of these transactions amounted to $106,950. Following these acquisitions, Reed now holds a total of 3,140,722 shares directly in the $448 million market cap company. Analyst targets range from $3 to $8, suggesting potential upside, while the stock trades at a P/E ratio of 8.9x. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Gannett Co., Inc. reported a 10.1% decline in total operating revenues for the first quarter of 2025, amounting to $571.6 million. Despite this decrease, the company managed to reduce its net loss by approximately $77 million, highlighting efforts to improve financial health. Gannett reiterated its full-year business outlook, expecting digital revenue stabilization in the second quarter and growth later in the year. JMP Securities maintained a Market Outperform rating for Gannett, with a price target of $6, citing potential growth catalysts such as digital subscription pricing and AI licensing agreements. The company also sold the Austin American-Statesman as part of its asset divestment strategy, which is expected to aid in debt reduction. Digital revenues decreased by 6.4%, but digital-only subscription revenues exceeded $43 million. Gannett aims to leverage AI-powered tools and new content verticals to support digital transformation. The company remains focused on cost optimization strategies and has seen positive momentum in its digital businesses, with March marking the best performing month of the quarter.
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