Renaissance Technologies LLC Grows Position in GCI Liberty, Inc. - Series C GCI Group $GLIBK

Key Points

• Renaissance Technologies increased its GLIBK position by 428.7% in the first quarter, acquiring 198,900 additional shares and ending with 245,300 shares valued at approximately $9.1 million.
• CEO Ronald A. Duncan purchased 65,000 shares at an average price of $21.04, totaling about $1.37 million, while several other institutional investors also established positions.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating. The stock recently traded at $23.17, and the company missed quarterly EPS expectations, reporting $0.45 versus the $1.21 consensus estimate.

Renaissance Technologies LLC increased its holdings in GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Free Report) by 428.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 245,300 shares of the company's stock after buying an additional 198,900 shares during the quarter. Renaissance Technologies LLC owned about 0.68% of GCI Liberty, Inc. - Series C GCI Group worth $9,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. bought a new position in GCI Liberty, Inc. - Series C GCI Group during the 3rd quarter valued at about $1,886,000. US Bancorp DE bought a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the third quarter worth approximately $79,000. Dimensional Fund Advisors LP purchased a new position in shares of GCI Liberty, Inc. - Series C GCI Group during the third quarter valued at approximately $20,108,000. Korea Investment CORP purchased a new position in shares of GCI Liberty, Inc. - Series C GCI Group during the third quarter valued at approximately $343,000. Finally, Russell Investments Group Ltd. bought a new position in GCI Liberty, Inc. - Series C GCI Group during the third quarter valued at approximately $7,437,000.

Insider Buying and Selling at GCI Liberty, Inc. - Series C GCI Group

In other GCI Liberty, Inc. - Series C GCI Group news, CEO Ronald A. Duncan purchased 65,000 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average price 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 $894,536.64. The trade was a -289.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of 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 lowered 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 research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce".

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

Shares of NASDAQ:GLIBK opened at $23.17 on Monday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $830.64 million and a PE ratio of -2.16. The firm's 50 day moving average price is $21.87 and its 200-day moving average price is $30.92. GCI Liberty, Inc. - Series C GCI Group has a twelve month low of $19.30 and a twelve month high of $41.17.

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