GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA) Announces Quarterly Earnings Results

Key Points

• GCI Liberty reported quarterly EPS of $0.68, missing the $0.86 consensus estimate by $0.18; revenue was $267 million.
• Shares rose $1.62 to $24.69 in Thursday midday trading. Zacks Research upgraded its rating from “strong sell” to “hold,” in line with the stock’s overall “Hold” consensus.
• Director John Malone purchased 406,730 shares for about $10.1 million, increasing his stake by 20.17%; company insiders bought 543,232 shares over the prior three months.

GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) announced its earnings results on Thursday. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.18), Zacks reports. 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 business had revenue of $267.00 million for the quarter.

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

Shares of NASDAQ:GLIBA traded up $1.62 during midday trading on Thursday, reaching $24.69. The company's stock had a trading volume of 112,911 shares, compared to its average volume of 48,368. The firm has a market capitalization of $708.52 million, a PE ratio of 3.37 and a beta of -0.67. GCI Liberty, Inc. - Series A GCI Group has a twelve month low of $19.30 and a twelve month high of $41.87. The stock has a fifty day moving average of $23.39 and a 200 day moving average of $28.58. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.73.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of GCI Liberty, Inc. - Series A GCI Group from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has an average rating of "Hold".

Insider Activity

In other GCI Liberty, Inc. - Series A GCI Group news, Director John Malone bought 406,730 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $24.87 per share, for a total transaction of $10,115,375.10. Following the completion of the transaction, the director directly owned 2,423,250 shares of the company's stock, valued at approximately $60,266,227.50. This trade represents a 20.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 543,232 shares of company stock worth $13,582,081 over the last three months. Company insiders own 7.87% of the company's stock.

About GCI Liberty, Inc. - Series A GCI Group

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.

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