GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA) Shares Climb 9.1% - Here's Why

Key Points

• GLIBA rose 9.1% in Thursday mid-day trading, reaching $25.158, though trading volume was down 84% from its average.
• Zacks Research upgraded the stock from “strong sell” to “hold”; the sole analyst rating it has is a Hold.
• The company reported quarterly EPS of $0.40, missing the $1.15 consensus estimate. Insiders purchased 543,232 shares over the past three months.

Shares of GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) traded up 9.1% during mid-day trading on Thursday. The stock traded as high as $24.74 and last traded at $25.1580. Approximately 9,054 shares were traded during trading, a decline of 84% from the average session volume of 57,469 shares. The stock had previously closed at $23.07.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of GCI Liberty, Inc. - Series A GCI Group from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, GCI Liberty, Inc. - Series A GCI Group has a consensus rating of "Hold".

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

The stock has a fifty day moving average of $23.44 and a two-hundred day moving average of $28.65. The stock has a market capitalization of $672.61 million, a price-to-earnings ratio of -2.08 and a beta of -0.67. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.73.

GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.75). The business had revenue of $261.00 million during the quarter. GCI Liberty, Inc. - Series A GCI Group had a positive return on equity of 11.56% and a negative net margin of 32.53%. As a group, equities research analysts forecast that GCI Liberty, Inc. - Series A GCI Group will post 2.58 earnings per share for the current year.

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

In other GCI Liberty, Inc. - Series A GCI Group news, Director John Malone purchased 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $26.00 per share, with a total value of $26,000.00. Following the completion of the acquisition, the director directly owned 2,559,752 shares of the company's stock, valued at $66,553,552. This represents a 0.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 543,232 shares of company stock valued at $13,582,081 in the last three months. Company insiders own 7.87% of the company's stock.

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

A number of hedge funds have recently added to or reduced their stakes in GLIBA. State Street Corp grew its stake in shares of GCI Liberty, Inc. - Series A GCI Group by 159.2% during the second quarter. State Street Corp now owns 175,280 shares of the company's stock valued at $3,839,000 after purchasing an additional 107,649 shares during the last quarter. Quantinno Capital Management LP raised its position in GCI Liberty, Inc. - Series A GCI Group by 78.9% in the 1st quarter. Quantinno Capital Management LP now owns 128,543 shares of the company's stock worth $4,737,000 after purchasing an additional 56,675 shares during the last quarter. Dimensional Fund Advisors LP raised its position in GCI Liberty, Inc. - Series A GCI Group by 29.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 154,189 shares of the company's stock worth $5,682,000 after purchasing an additional 35,340 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in GCI Liberty, Inc. - Series A GCI Group by 6,245.6% during the 3rd quarter. Sterling Capital Management LLC now owns 4,315 shares of the company's stock worth $100,000 after buying an additional 4,247 shares in the last quarter. Finally, Wedmont Private Capital acquired a new position in GCI Liberty, Inc. - Series A GCI Group during the 3rd quarter worth $336,000.

About GCI Liberty, Inc. - Series A GCI Group

GCI Liberty, Inc was a holding company associated primarily with GCI Holdings, LLC, an Alaska-based telecommunications provider. Through GCI Holdings, the company offered broadband internet, wireless communications, video, voice, and data services to residential, business, government, and educational customers.

GCI served communities throughout Alaska, including areas where geography and limited infrastructure made telecommunications deployment challenging. Its services included high-speed internet, mobile and fixed wireless connectivity, cable television, local and long-distance voice services, enterprise networking, data transport, and communications solutions for public-sector and commercial customers.

GCI Liberty was created in 2018 in connection with the combination of Liberty Interactive and GCI Holdings.

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