Bank of America Corp DE Acquires 67,739 Shares of GCI Liberty, Inc. - Series C GCI Group $GLIBK

Bank of America Corp DE grew its holdings in GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Free Report) by 50.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,832 shares of the company's stock after purchasing an additional 67,739 shares during the quarter. Bank of America Corp DE owned about 0.56% of GCI Liberty, Inc. - Series C GCI Group worth $7,473,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of GCI Liberty, Inc. - Series C GCI Group by 5.2% in the fourth quarter. Barclays PLC now owns 3,386,430 shares of the company's stock valued at $126,009,000 after buying an additional 168,113 shares during the last quarter. UBS Group AG grew its stake in shares of GCI Liberty, Inc. - Series C GCI Group by 56.1% during the fourth quarter. UBS Group AG now owns 3,233,608 shares of the company's stock valued at $120,323,000 after purchasing an additional 1,162,370 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of GCI Liberty, Inc. - Series C GCI Group by 40.2% in the fourth quarter. Vanguard Group Inc. now owns 3,057,197 shares of the company's stock valued at $113,758,000 after purchasing an additional 876,902 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of GCI Liberty, Inc. - Series C GCI Group by 6,855,845.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,262,462 shares of the company's stock valued at $84,186,000 after purchasing an additional 2,262,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in GCI Liberty, Inc. - Series C GCI Group by 36.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,504,923 shares of the company's stock worth $55,996,000 after purchasing an additional 398,769 shares during the last quarter.

Insiders Place Their Bets

In related news, Director John C. Malone bought 1,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $26.00 per share, with a total value of $26,000.00. Following the completion of the purchase, the director owned 2,559,752 shares of the company's stock, valued at $66,553,552. This represents a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ronald A. Duncan bought 65,000 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was bought at an average cost of $21.04 per share, for a total transaction of $1,367,600.00. Following the purchase, the chief executive officer directly owned 42,516 shares of the company's stock, valued at approximately $894,536.64. This trade represents a -289.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 610,732 shares of company stock valued at $15,002,306.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GLIBK. Weiss Ratings reissued a "sell (d)" rating on shares of GCI Liberty, Inc. - Series C GCI Group in a research note on Tuesday, August 18th. Zacks Research lowered GCI Liberty, Inc. - Series C GCI Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

GCI Liberty, Inc. - Series C GCI Group Trading Up 2.3%

Shares of NASDAQ GLIBK opened at $26.37 on Wednesday. The company's 50 day simple moving average is $22.99 and its 200 day simple moving average is $29.44. GCI Liberty, Inc. - Series C GCI Group has a fifty-two week low of $19.30 and a fifty-two week high of $41.17. The firm has a market capitalization of $945.36 million and a P/E ratio of -2.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.37 and a quick ratio of 3.37.

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

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