Zacks Investment Research Lowers GCI Liberty (NASDAQ:GLIBA) to Hold

Zacks Investment Research cut shares of GCI Liberty (NASDAQ:GLIBA) from a buy rating to a hold rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “GCI Liberty, Inc. provides telecommunication services. The Company offers broadband, television, tariff information, bills payment, connection and installation and other related services. GCI Liberty, Inc. is headquartered in Alaska, North America. “

Several other analysts have also commented on the company. B. Riley set a $13.00 price objective on Vista Outdoor and gave the company a buy rating in a report on Friday, May 10th. Citigroup raised their price objective on PVH from $120.00 to $128.00 and gave the company a neutral rating in a report on Friday, March 29th. Finally, Pivotal Research reissued a buy rating and issued a $69.00 price objective (up from $65.00) on shares of GCI Liberty in a report on Friday, May 10th.

Shares of GLIBA stock opened at $64.60 on Thursday. The firm’s 50 day moving average is $61.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.57 and a quick ratio of 0.57. GCI Liberty has a twelve month low of $38.72 and a twelve month high of $64.82.

GCI Liberty (NASDAQ:GLIBA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.83). The company had revenue of $217.74 million for the quarter, compared to analysts’ expectations of $220.00 million. GCI Liberty had a negative net margin of 2.69% and a negative return on equity of 3.67%. As a group, equities analysts predict that GCI Liberty will post 5.73 earnings per share for the current year.

In other GCI Liberty news, Director Ronald A. Duncan sold 50,500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $60.80, for a total value of $3,070,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.78% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of GCI Liberty by 4.4% during the 4th quarter. BlackRock Inc. now owns 4,693,583 shares of the company’s stock valued at $193,189,000 after acquiring an additional 195,797 shares during the period. Citigroup Inc. raised its holdings in GCI Liberty by 117.3% during the fourth quarter. Citigroup Inc. now owns 25,031 shares of the company’s stock worth $1,030,000 after buying an additional 13,514 shares during the last quarter. Northern Trust Corp raised its holdings in GCI Liberty by 1.2% during the fourth quarter. Northern Trust Corp now owns 495,098 shares of the company’s stock worth $20,378,000 after buying an additional 5,733 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in GCI Liberty by 15.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 10,829 shares of the company’s stock worth $430,000 after buying an additional 1,445 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in GCI Liberty by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 1,040,138 shares of the company’s stock worth $42,812,000 after buying an additional 58,070 shares during the last quarter. 87.59% of the stock is currently owned by hedge funds and other institutional investors.

About GCI Liberty

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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