GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK) Director Purchases 406,730 Shares

Key Points

• Director John Malone purchased 406,730 GLIBK shares at an average price of $24.87, investing approximately $10.1 million and increasing his direct ownership by 20.17% to 2.42 million shares.
• GLIBK shares rose 3.1% to $25.71, but the company’s latest quarterly earnings of $0.40 per share fell well short of the $1.15 consensus estimate; analysts expect $2.58 in full-year EPS.
• Institutional investors increased several positions in the stock, while analyst sentiment remains cautious, with a consensus “Reduce” rating based on one Hold and one Sell recommendation.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) Director John Malone acquired 406,730 shares of GCI Liberty, Inc. - Series C GCI Group stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $24.87 per share, for a total transaction of $10,115,375.10. Following the completion of the purchase, the director directly owned 2,423,250 shares in the company, valued at approximately $60,266,227.50. This represents a 20.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

GCI Liberty, Inc. - Series C GCI Group Trading Up 3.1%

NASDAQ GLIBK traded up $0.78 during mid-day trading on Wednesday, hitting $25.71. The company's stock had a trading volume of 600,534 shares, compared to its average volume of 618,154. 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 has a 52-week low of $19.30 and a 52-week high of $41.17. The stock's fifty day simple moving average is $22.05 and its two-hundred day simple moving average is $30.24. The firm has a market capitalization of $921.78 million and a P/E ratio of -2.29.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) last posted its 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 negative net margin of 32.53% and a positive return on equity of 11.56%. Research analysts expect that GCI Liberty, Inc. - Series C GCI Group will post 2.58 EPS for the current year.

Institutional Trading of GCI Liberty, Inc. - Series C GCI Group

A number of institutional investors and hedge funds have recently made changes to their positions in GLIBK. Versant Capital Management Inc boosted its position in GCI Liberty, Inc. - Series C GCI Group by 2,965.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,207 shares of the company's stock valued at $48,000 after purchasing an additional 2,135 shares during the period. Bank of America Corp DE increased its position in GCI Liberty, Inc. - Series C GCI Group by 50.9% in the first quarter. Bank of America Corp DE now owns 200,832 shares of the company's stock worth $7,473,000 after buying an additional 67,739 shares during the period. Amundi acquired a new stake in GCI Liberty, Inc. - Series C GCI Group in the first quarter worth $2,818,000. California State Teachers Retirement System lifted its stake in GCI Liberty, Inc. - Series C GCI Group by 40.0% in the first quarter. California State Teachers Retirement System now owns 42,820 shares of the company's stock valued at $1,593,000 after buying an additional 12,244 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in GCI Liberty, Inc. - Series C GCI Group by 64.3% in the first quarter. Quantinno Capital Management LP now owns 113,411 shares of the company's stock valued at $4,220,000 after buying an additional 44,368 shares during the last quarter.

Analyst Upgrades and Downgrades

GLIBK has been the topic of a number of analyst reports. 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 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 equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

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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