Lazard Asset Management LLC Acquires New Stake in GCI Liberty, Inc. - Series C GCI Group $GLIBK

Key Points

• Lazard Asset Management acquired 59,074 shares of GCI Liberty Series C, worth approximately $2.2 million, giving it a 0.16% stake. Several other institutional investors also initiated positions during recent quarters.
• CEO Ronald A. Duncan purchased 65,000 shares at an average price of $21.04, investing approximately $1.37 million in the company.
• GLIBK recently traded at $23.17 after reporting quarterly EPS of $0.45, well below the $1.21 analyst consensus. Analysts maintain a cautious outlook, with a consensus rating of “Reduce.”

Lazard Asset Management LLC acquired a new stake in shares of GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 59,074 shares of the company's stock, valued at approximately $2,198,000. Lazard Asset Management LLC owned about 0.16% of GCI Liberty, Inc. - Series C GCI Group at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Quarry LP purchased a new position in GCI Liberty, Inc. - Series C GCI Group in the 3rd quarter worth approximately $30,000. FNY Investment Advisers LLC purchased a new stake in GCI Liberty, Inc. - Series C GCI Group during the 4th quarter valued at $33,000. Fifth Third Bancorp bought a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 1st quarter worth $38,000. Highlander Partners L.P. bought a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 4th quarter worth $63,000. Finally, State of Wyoming purchased a new position in shares of GCI Liberty, Inc. - Series C GCI Group in the fourth quarter worth $73,000.

Insiders Place Their Bets

In other news, CEO Ronald A. Duncan bought 65,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average cost of $21.04 per share, with a total value of $1,367,600.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

Shares of GLIBK opened at $23.17 on Monday. The firm has a market cap of $830.64 million and a PE ratio of -2.16. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $21.87 and a two-hundred day simple moving average of $30.92. GCI Liberty, Inc. - Series C GCI Group has a 1-year low of $19.30 and a 1-year high of $41.17.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($0.76). GCI Liberty, Inc. - Series C GCI Group had a positive return on equity of 12.74% and a negative net margin of 31.47%. On average, equities analysts anticipate that GCI Liberty, Inc. - Series C GCI Group will post 3.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research raised GCI Liberty, Inc. - Series C GCI Group from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of GCI Liberty, Inc. - Series C GCI Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, GCI Liberty, Inc. - Series C GCI Group currently has a consensus rating of "Reduce".

GCI Liberty, Inc. - Series C GCI Group 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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