GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) Stock Price Down 4.6% – Here’s What Happened

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) shares traded down 4.6% during trading on Friday. The company traded as low as $22.61 and last traded at $22.4950. Approximately 3,313 shares were traded during mid-day trading, a decline of 94% from the average session volume of 58,196 shares. The stock had previously closed at $23.59.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of GCI Liberty, Inc. – Series A GCI Group from a “strong sell” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

GCI Liberty, Inc. – Series A GCI Group Stock Performance

The firm’s 50-day simple moving average is $25.18 and its 200-day simple moving average is $26.63. The company has a market capitalization of $613.86 million, a PE ratio of -1.90 and a beta of -0.70. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.73.

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.75). The business had revenue of $261.00 million during the quarter. GCI Liberty, Inc. – Series A GCI Group had a positive return on equity of 11.56% and a negative net margin of 32.53%. On average, research analysts predict that GCI Liberty, Inc. – Series A GCI Group will post 2.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John Malone bought 406,730 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $24.87 per share, for a total transaction of $10,115,375.10. Following the completion of the purchase, the director owned 2,423,250 shares in the company, valued at approximately $60,266,227.50. This trade represents a 20.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 543,232 shares of company stock valued at $13,582,081. Company insiders own 7.87% of the company’s stock.

Hedge Funds Weigh In On GCI Liberty, Inc. – Series A GCI Group

A number of institutional investors and hedge funds have recently made changes to their positions in GLIBA. Gamco Investors INC. ET AL raised its holdings in shares of GCI Liberty, Inc. – Series A GCI Group by 8.0% in the first quarter. Gamco Investors INC. ET AL now owns 13,793 shares of the company’s stock worth $508,000 after acquiring an additional 1,023 shares during the last quarter. Gabelli Funds LLC raised its stake in GCI Liberty, Inc. – Series A GCI Group by 6.1% during the first quarter. Gabelli Funds LLC now owns 22,010 shares of the company’s stock worth $811,000 after purchasing an additional 1,260 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in GCI Liberty, Inc. – Series A GCI Group during the first quarter worth about $147,000. R Squared Ltd purchased a new stake in GCI Liberty, Inc. – Series A GCI Group during the first quarter worth approximately $240,000. Finally, Moran Wealth Management LLC purchased a new position in GCI Liberty, Inc. – Series A GCI Group in the first quarter valued at about $281,000.

GCI Liberty, Inc. – Series A GCI Group Company Profile

GCI Liberty, Inc was a holding company whose Series A GCI Group tracking stock represented an interest in GCI Holdings, LLC, an Alaska-based telecommunications and media company. GCI Liberty was formed in 2018 through the separation of GCI Holdings from Liberty Interactive Corporation.

Through GCI Holdings, the company provided wireless communications, broadband internet, video, voice, data networking, and managed services. GCI served residential, business, government, and wholesale customers across Alaska, including communities where telecommunications infrastructure can be difficult to develop.