GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) Shares Gap Up – Here’s Why

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA)’s share price gapped up before the market opened on Monday. The stock had previously closed at $24.71, but opened at $26.36. GCI Liberty, Inc. – Series A GCI Group shares last traded at $26.7590, with a volume of 793 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of GCI Liberty, Inc. – Series A GCI Group from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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

The company has a debt-to-equity ratio of 0.65, a current ratio of 2.85 and a quick ratio of 2.85. The company has a market cap of $787.24 million, a PE ratio of 9.85 and a beta of -0.67. The business has a fifty day simple moving average of $23.42 and a two-hundred day simple moving average of $28.41.

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.18). GCI Liberty, Inc. – Series A GCI Group had a return on equity of 4.46% and a net margin of 7.36%. The company had revenue of $267.00 million for the quarter. Research analysts anticipate that GCI Liberty, Inc. – Series A GCI Group will post 2.36 earnings per share for the current year.

GCI Liberty, Inc. – Series A GCI Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $0.3750 per share. This represents a $1.50 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, November 30th.

Insider Activity at GCI Liberty, Inc. – Series A GCI Group

In other news, Director John Malone purchased 1,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $26.00 per share, for a total transaction of $26,000.00. Following the acquisition, the director owned 2,559,752 shares of the company’s stock, valued at approximately $66,553,552. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.87% of the company’s stock.

Institutional Investors Weigh In On GCI Liberty, Inc. – Series A GCI Group

A number of hedge funds and other institutional investors have recently bought and sold shares of GLIBA. Dimensional Fund Advisors LP boosted its stake in GCI Liberty, Inc. – Series A GCI Group by 29.7% in the first quarter. Dimensional Fund Advisors LP now owns 154,189 shares of the company’s stock valued at $5,682,000 after acquiring an additional 35,340 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of GCI Liberty, Inc. – Series A GCI Group by 78.9% during the first quarter. Quantinno Capital Management LP now owns 128,543 shares of the company’s stock worth $4,737,000 after purchasing an additional 56,675 shares in the last quarter. State Street Corp increased its position in shares of GCI Liberty, Inc. – Series A GCI Group by 159.2% during the second quarter. State Street Corp now owns 175,280 shares of the company’s stock worth $3,839,000 after purchasing an additional 107,649 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of GCI Liberty, Inc. – Series A GCI Group by 6.1% in the 1st quarter. Gabelli Funds LLC now owns 22,010 shares of the company’s stock worth $811,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in shares of GCI Liberty, Inc. – Series A GCI Group in the 3rd quarter worth $552,000.

About GCI Liberty, Inc. – Series A GCI Group

GCI Liberty, Inc. was a telecommunications holding company whose primary operating business was GCI, an Alaska-based provider of communications services. Through GCI, the company offered wireless and wireline voice, internet, data, and video services to residential, business, government, and wholesale customers across Alaska. GCI Liberty was formed in 2018 and ceased to operate as a standalone public company after merging with Liberty Broadband in 2020. Its former Series A shares traded on Nasdaq under the symbol GLIBA.