Ruane Cunniff & Goldfarb L.P. Sells 32,344 Shares of GCI Liberty, Inc. – Series C GCI Group $GLIBK

Ruane Cunniff & Goldfarb L.P. trimmed its position in shares of GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 506,727 shares of the company’s stock after selling 32,344 shares during the quarter. GCI Liberty, Inc. – Series C GCI Group makes up 0.3% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 25th biggest holding. Ruane Cunniff & Goldfarb L.P.’s holdings in GCI Liberty, Inc. – Series C GCI Group were worth $18,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of GCI Liberty, Inc. – Series C GCI Group in the third quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new stake in GCI Liberty, Inc. – Series C GCI Group during the 4th quarter worth approximately $33,000. Fifth Third Bancorp bought a new stake in GCI Liberty, Inc. – Series C GCI Group during the 1st quarter worth approximately $38,000. Highlander Partners L.P. bought a new stake in GCI Liberty, Inc. – Series C GCI Group during the 4th quarter worth approximately $63,000. Finally, State of Wyoming bought a new stake in GCI Liberty, Inc. – Series C GCI Group during the 4th quarter worth approximately $73,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GLIBK shares. Weiss Ratings lowered shares of GCI Liberty, Inc. – Series C GCI Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 21st. Zacks Research raised GCI Liberty, Inc. – Series C GCI Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Insiders Place Their Bets

In other news, CEO Ronald A. Duncan purchased 65,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average price of $21.04 per share, for a total transaction of $1,367,600.00. Following the completion of the acquisition, the chief executive officer owned 42,516 shares in the company, valued at approximately $894,536.64. The trade was a -289.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

GCI Liberty, Inc. – Series C GCI Group Trading Up 2.7%

GLIBK opened at $22.55 on Tuesday. The company has a fifty day moving average price of $22.04 and a two-hundred day moving average price of $31.34. GCI Liberty, Inc. – Series C GCI Group has a 1-year low of $19.30 and a 1-year high of $41.17. The company has a market cap of $808.42 million and a P/E ratio of -2.11. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.61.

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) last issued its earnings results on Thursday, May 7th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.76). GCI Liberty, Inc. – Series C GCI Group had a negative net margin of 31.47% and a positive return on equity of 12.74%. Analysts predict that GCI Liberty, Inc. – Series C GCI Group will post 3.36 EPS for the current fiscal year.

GCI Liberty, Inc. – Series C GCI Group Profile

GCI Liberty Inc is an American holding company whose principal operating asset is a majority ownership interest in General Communication Inc, the largest integrated telecommunications provider in the state of Alaska. GCI Liberty was formed in December 2019 as a tracking stock of Liberty Interactive Group to hold certain communications and digital media investments. Its shares trade on the NASDAQ under the ticker symbol GLIBK.

Through its subsidiary, the company delivers high-speed broadband internet, cable and direct-to-home video distribution, fixed voice, and mobile wireless services to residential customers across Alaska.