GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK) Issues Quarterly Earnings Results, Misses Expectations By $0.75 EPS

Key Points

• GCI Liberty reported quarterly EPS of $0.40, falling $0.75 short of the $1.15 consensus estimate. The company posted a negative net margin of 31.47% but positive return on equity of 12.74%.
• GLIBK shares rose $0.46 to $23.95 during Thursday trading, but remained well below their 12-month high of $41.17. The stock has a consensus “Reduce” rating, with one analyst at Hold and another at Sell.
• CEO Ronald A. Duncan bought 65,000 shares for approximately $1.37 million, while several institutional investors—including Dimensional Fund Advisors and JPMorgan—recently established positions.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.75), Zacks reports. GCI Liberty, Inc. - Series C GCI Group had a negative net margin of 31.47% and a positive return on equity of 12.74%.

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

GLIBK traded up $0.46 during trading on Thursday, hitting $23.95. 423,192 shares of the stock traded hands, compared to its average volume of 480,204. The business has a 50 day moving average price of $21.88 and a 200 day moving average price of $30.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.31 and a quick ratio of 3.31. GCI Liberty, Inc. - Series C GCI Group has a twelve month low of $19.30 and a twelve month high of $41.17. The company has a market cap of $858.61 million and a price-to-earnings ratio of -2.24.

Insider Activity

In other GCI Liberty, Inc. - Series C GCI Group news, CEO Ronald A. Duncan purchased 65,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $21.04 per share, with a total value of $1,367,600.00. Following the acquisition, the chief executive officer owned 42,516 shares of the company's stock, valued at approximately $894,536.64. This represents a -289.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in GCI Liberty, Inc. - Series C GCI Group during the 3rd quarter worth approximately $1,886,000. US Bancorp DE purchased a new position in shares of GCI Liberty, Inc. - Series C GCI Group in the 3rd quarter worth about $79,000. Dimensional Fund Advisors LP bought a new position in GCI Liberty, Inc. - Series C GCI Group during the third quarter valued at about $20,108,000. Korea Investment CORP purchased a new stake in GCI Liberty, Inc. - Series C GCI Group during the third quarter worth about $343,000. Finally, Russell Investments Group Ltd. bought a new stake in GCI Liberty, Inc. - Series C GCI Group in the third quarter worth about $7,437,000.

Analyst Ratings Changes

A number of research firms recently commented on GLIBK. 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 cut 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 analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce".

About GCI Liberty, Inc. - Series C GCI Group

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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