GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded GCI Liberty’s Series A tracking stock from “strong sell” to “hold.”
• The company reported quarterly EPS of $0.40, missing the $1.15 consensus estimate by $0.75, on revenue of $261 million; analysts expect full-year EPS of $2.58.
• Director John Malone purchased 406,730 shares worth about $10.1 million, while insiders acquired more than 543,000 shares over the past 90 days.

GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

GCI Liberty, Inc. - Series A GCI Group Price Performance

GCI Liberty, Inc. - Series A GCI Group stock opened at $23.65 on Monday. The firm has a market capitalization of $678.75 million, a price-to-earnings ratio of -2.10 and a beta of -0.70. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.73. GCI Liberty, Inc. - Series A GCI Group has a 52-week low of $19.61 and a 52-week high of $41.87. The company has a fifty day simple moving average of $25.19 and a 200-day simple moving average of $26.81.

GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) last released its 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 positive return on equity of 11.56% and a negative net margin of 32.53%.The business had revenue of $261.00 million during the quarter. On average, equities analysts anticipate that GCI Liberty, Inc. - Series A GCI Group will post 2.58 EPS for the current fiscal year.

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

In other news, Director John Malone purchased 406,730 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $24.87 per share, with a total value of $10,115,375.10. Following the transaction, the director owned 2,423,250 shares in the company, valued at $60,266,227.50. The trade was a 20.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 543,232 shares of company stock worth $13,582,081. 7.87% of the stock is owned by insiders.

Institutional Trading of GCI Liberty, Inc. - Series A GCI Group

Hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new position in GCI Liberty, Inc. - Series A GCI Group in the first quarter worth approximately $147,000. R Squared Ltd acquired a new stake in shares of GCI Liberty, Inc. - Series A GCI Group during the 1st quarter worth about $240,000. Moran Wealth Management LLC purchased a new stake in GCI Liberty, Inc. - Series A GCI Group in the 1st quarter valued at about $281,000. WINTON GROUP Ltd acquired a new position in GCI Liberty, Inc. - Series A GCI Group in the second quarter valued at about $210,000. Finally, Gamco Investors INC. ET AL boosted its stake in GCI Liberty, Inc. - Series A GCI Group by 8.0% during the first quarter. Gamco Investors INC. ET AL now owns 13,793 shares of the company's stock worth $508,000 after buying an additional 1,023 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.