CIBC Asset Management Inc Purchases Shares of 3,851 GCI Liberty Inc (GLIBA)

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CIBC Asset Management Inc purchased a new stake in GCI Liberty Inc (NASDAQ:GLIBA) during the 1st quarter, Holdings Channel reports. The fund purchased 3,851 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds also recently modified their holdings of GLIBA. Vanguard Group Inc raised its stake in GCI Liberty by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 8,405,933 shares of the company’s stock valued at $428,703,000 after acquiring an additional 190,577 shares during the period. Virtu Financial LLC raised its stake in GCI Liberty by 27.4% in the 4th quarter. Virtu Financial LLC now owns 7,198 shares of the company’s stock valued at $296,000 after acquiring an additional 1,547 shares during the period. Nisa Investment Advisors LLC raised its stake in GCI Liberty by 27.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,195 shares of the company’s stock valued at $214,000 after acquiring an additional 1,126 shares during the period. Bank of Montreal Can raised its stake in GCI Liberty by 58.8% in the 4th quarter. Bank of Montreal Can now owns 5,809 shares of the company’s stock valued at $239,000 after acquiring an additional 2,152 shares during the period. Finally, We Are One Seven LLC bought a new stake in GCI Liberty in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

In other news, Director Ronald A. Duncan sold 50,500 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $60.80, for a total transaction of $3,070,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.02% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded GCI Liberty from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, May 14th. B. Riley restated a “buy” rating and issued a $72.00 price objective (up from $69.00) on shares of GCI Liberty in a research note on Friday, May 10th. Pivotal Research restated a “buy” rating and issued a $69.00 price objective (up from $65.00) on shares of GCI Liberty in a research note on Friday, May 10th. Finally, Citigroup boosted their price objective on GCI Liberty from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, March 29th.

Shares of GLIBA opened at $59.97 on Monday. GCI Liberty Inc has a twelve month low of $38.72 and a twelve month high of $61.04. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44.

GCI Liberty (NASDAQ:GLIBA) last announced its quarterly earnings results on Thursday, February 28th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. GCI Liberty had a negative return on equity of 3.67% and a negative net margin of 2.69%. The firm had revenue of $234.92 million for the quarter, compared to analysts’ expectations of $224.00 million. As a group, sell-side analysts expect that GCI Liberty Inc will post -0.47 earnings per share for the current year.

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GCI Liberty Company Profile

GCI Liberty, Inc, together with its subsidiaries, provides various communication services in the United States. The company offers data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions. It also operates a digital invitation platform that provides custom display advertising, native advertising content, custom video, and brand partnership services.

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Institutional Ownership by Quarter for GCI Liberty (NASDAQ:GLIBA)

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