GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded GCI Liberty’s Series C shares (NASDAQ: GLIBK) from “strong sell” to “hold”, while Weiss Ratings slightly improved its view from “sell (d+)” to “sell (d).” Overall, the stock’s consensus rating remains “Reduce.”
• GLIBK opened at $21.54, below both its 50-day average of $22.98 and 200-day average of $32.26. The company has a market cap of about $772 million and shares are trading near the lower end of its $19.30 to $41.17 52-week range.
• GCI Liberty recently reported Q1 earnings of $0.45 per share, missing expectations of $1.21 by a wide margin. CEO Ronald A. Duncan also bought 65,000 shares in early June, signaling insider confidence despite the weak earnings result.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings downgraded GCI Liberty, Inc. - Series C GCI Group from a "sell (d+)" rating to a "sell (d)" rating in a research 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce".

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

Shares of GLIBK stock opened at $21.54 on Monday. The company's fifty day simple moving average is $22.98 and its 200-day simple moving average is $32.26. 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 firm has a market cap of $772.21 million and a PE ratio of -2.01. GCI Liberty, Inc. - Series C GCI Group has a 12 month low of $19.30 and a 12 month high of $41.17.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates 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 fiscal year.

Insider Transactions at GCI Liberty, Inc. - Series C GCI Group

In other GCI Liberty, Inc. - Series C GCI Group news, CEO Ronald A. Duncan acquired 65,000 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was bought 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 directly owned 42,516 shares in the company, valued at approximately $894,536.64. This represents a -289.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On GCI Liberty, Inc. - Series C GCI Group

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in GCI Liberty, Inc. - Series C GCI Group during the third quarter worth approximately $30,000. FNY Investment Advisers LLC bought a new position in shares of GCI Liberty, Inc. - Series C GCI Group during the fourth quarter worth approximately $33,000. Fifth Third Bancorp bought a new position in shares of GCI Liberty, Inc. - Series C GCI Group during the first quarter worth approximately $38,000. Central Pacific Bank Trust Division acquired a new stake in GCI Liberty, Inc. - Series C GCI Group during the 4th quarter worth approximately $48,000. Finally, Corient Private Wealth LLC boosted its stake in GCI Liberty, Inc. - Series C GCI Group by 13.4% in the 4th quarter. Corient Private Wealth LLC now owns 11,767 shares of the company's stock valued at $438,000 after purchasing an additional 1,391 shares during the period.

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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