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| Snatch This Bargain Dividend Stock Even Cheaper Than Director Ness DidBy Dividend Channel Staff, Friday, November 18, 11:32 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 10, Gannett Co Inc's Director, Susan Ness, invested $11,220.00 into 1,000 shares of GCI, for a cost per share of $11.22. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Friday, bargain hunters could buy shares of Gannett Co Inc (NYSE:GCI) and achieve a cost basis 3.0% cheaper than Ness, with shares changing hands as low as $10.88 per share. Gannett Co Inc shares are currently trading up about 0.4% on the day. The chart below shows the one year performance of GCI shares, versus its 200 day moving average:
Looking at the chart above, GCI's low point in its 52 week range is $8.28 per share, with $18.93 as the 52 week high point — that compares with a last trade of $11.01. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
The current annualized dividend paid by Gannett Co Inc is $0.32/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 12/07/2011. Below is a long-term dividend history chart for GCI, which can be of good help in judging whether the most recent dividend with approx. 2.9% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, GCI makes up 2.79% of the Dynamic Media Portfolio ETF (AMEX:PBS) which is trading higher by about 0.8% on the day Friday. See what other ETFs contain GCI » GCI operates in the Publishing & Printing sector, among companies like Journal Communications Inc (NYSE:JRN) which is up about 2.6% today, and Cenveo Inc (NYSE:CVO) trading up by about 3.4%. Below is a three month price history chart comparing the stock performance of GCI, versus JRN and CVO.
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One Reason For Insiders to Buy
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