Ancora Advisors LLC Cuts Holdings in GCI Liberty, Inc. - Series C GCI Group $GLIBK

Key Points

• Ancora Advisors cut its GLIBK position by 49% in the second quarter, selling 148,166 shares and retaining 154,105 shares valued at approximately $3.3 million.
• Analyst sentiment is bearish: Weiss Ratings maintained a sell rating, Zacks Research downgraded the stock to “strong sell,” and MarketBeat reports an average rating of “Sell.”
• GLIBK opened at $25.80, well below its 52-week high of $41.17, while quarterly earnings of $0.40 per share missed the $1.15 consensus estimate by $0.75.

Ancora Advisors LLC decreased its holdings in GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Free Report) by 49.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,105 shares of the company's stock after selling 148,166 shares during the period. Ancora Advisors LLC owned about 0.43% of GCI Liberty, Inc. - Series C GCI Group worth $3,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GLIBK. Quarry LP purchased a new stake in shares of GCI Liberty, Inc. - Series C GCI Group during the 3rd quarter worth $30,000. Fifth Third Bancorp bought a new position in GCI Liberty, Inc. - Series C GCI Group in the first quarter worth about $38,000. Versant Capital Management Inc lifted its position in shares of GCI Liberty, Inc. - Series C GCI Group by 2,965.3% during the second quarter. Versant Capital Management Inc now owns 2,207 shares of the company's stock valued at $48,000 after buying an additional 2,135 shares during the last quarter. Highlander Partners L.P. purchased a new stake in shares of GCI Liberty, Inc. - Series C GCI Group during the fourth quarter valued at about $63,000. Finally, State of Wyoming purchased a new position in shares of GCI Liberty, Inc. - Series C GCI Group in the 4th quarter worth approximately $73,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a "sell (d)" rating on shares of GCI Liberty, Inc. - Series C GCI Group in a research note on Tuesday, August 18th. Zacks Research downgraded GCI Liberty, Inc. - Series C GCI Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".

Insider Buying and Selling

In other news, Director John C. Malone acquired 1,000 shares of the business's stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $26.00 per share, with a total value of $26,000.00. Following the completion of 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 document filed 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 in the last quarter.

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

Shares of NASDAQ GLIBK opened at $25.80 on Wednesday. GCI Liberty, Inc. - Series C GCI Group has a 52 week low of $19.30 and a 52 week high of $41.17. The business's 50 day moving average price is $23.57 and its 200 day moving average price is $28.98. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.73. The firm has a market cap of $924.93 million, a P/E ratio of -2.29 and a beta of -1.03.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.75). GCI Liberty, Inc. - Series C GCI Group had a positive return on equity of 11.56% and a negative net margin of 32.53%. On average, sell-side analysts expect that GCI Liberty, Inc. - Series C GCI Group will post 2.58 earnings per share for the current year.

GCI Liberty, Inc. - Series C GCI Group Company Profile

GCI Liberty Inc is an American holding company whose principal operating asset is a majority ownership interest in General Communication Inc, the largest integrated telecommunications provider in the state of Alaska. GCI Liberty was formed in December 2019 as a tracking stock of Liberty Interactive Group to hold certain communications and digital media investments. Its shares trade on the NASDAQ under the ticker symbol GLIBK.

Through its subsidiary, the company delivers high-speed broadband internet, cable and direct-to-home video distribution, fixed voice, and mobile wireless services to residential customers across Alaska.

Want to see what other hedge funds are holding GLIBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source