GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) Shares Up 9.1% – Here’s Why

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) shares rose 9.1% during mid-day trading on Thursday. The stock traded as high as $24.74 and last traded at $25.1580. 9,054 shares changed hands during trading, a decline of 84% from the average daily volume of 57,469 shares. The stock had previously closed at $23.07.

Analysts Set New Price Targets

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

GCI Liberty, Inc. – Series A GCI Group Stock Up 1.6%

The business’s fifty day simple moving average is $23.44 and its 200 day simple moving average is $28.65. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.73. The stock has a market cap of $672.61 million, a price-to-earnings ratio of -2.08 and a beta of -0.67.

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

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

In related news, Director John Malone acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $26.00 per share, for a total transaction of $26,000.00. Following the completion of the acquisition, the director owned 2,559,752 shares of the company’s stock, valued at $66,553,552. This trade represents a 0.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 543,232 shares of company stock worth $13,582,081 over the last ninety days. 7.87% of the stock is owned by insiders.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in shares of GCI Liberty, Inc. – Series A GCI Group by 6,245.6% in the 3rd quarter. Sterling Capital Management LLC now owns 4,315 shares of the company’s stock valued at $100,000 after acquiring an additional 4,247 shares during the last quarter. Wedmont Private Capital bought a new position in GCI Liberty, Inc. – Series A GCI Group during the 3rd quarter worth approximately $336,000. State Street Corp boosted its stake in GCI Liberty, Inc. – Series A GCI Group by 159.2% during the 2nd quarter. State Street Corp now owns 175,280 shares of the company’s stock worth $3,839,000 after acquiring an additional 107,649 shares during the last quarter. WINTON GROUP Ltd acquired a new position in GCI Liberty, Inc. – Series A GCI Group during the second quarter valued at approximately $210,000. Finally, Quantinno Capital Management LP increased its stake in GCI Liberty, Inc. – Series A GCI Group by 78.9% in the first quarter. Quantinno Capital Management LP now owns 128,543 shares of the company’s stock valued at $4,737,000 after purchasing an additional 56,675 shares in the last quarter.

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

GCI Liberty, Inc was a holding company associated primarily with GCI Holdings, LLC, an Alaska-based telecommunications provider. Through GCI Holdings, the company offered broadband internet, wireless communications, video, voice, and data services to residential, business, government, and educational customers.

GCI served communities throughout Alaska, including areas where geography and limited infrastructure made telecommunications deployment challenging. Its services included high-speed internet, mobile and fixed wireless connectivity, cable television, local and long-distance voice services, enterprise networking, data transport, and communications solutions for public-sector and commercial customers.

GCI Liberty was created in 2018 in connection with the combination of Liberty Interactive and GCI Holdings.