GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA) Shares Gap Up - Time to Buy?

Key Points

• GLIBA shares gapped up 2.7%, opening at $23.00 versus a prior close of $21.51, but later traded near $22.86 on relatively light volume.
• Zacks Research upgraded the stock from “strong sell” to “hold”; the sole analyst covering the company also rates it Hold. The company’s latest quarterly EPS of $0.40 missed the $1.15 consensus estimate, while revenue totaled $261 million.
• Director John Malone purchased 406,730 shares for roughly $10.1 million, contributing to more than $13.6 million in insider purchases over the past 90 days and signaling increased insider ownership.

GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $21.51, but opened at $23.00. GCI Liberty, Inc. - Series A GCI Group shares last traded at $22.8590, with a volume of 4,767 shares changing hands.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock has a consensus rating of "Hold".

GCI Liberty, Inc. - Series A GCI Group Stock Up 2.7%

The company has a debt-to-equity ratio of 0.73, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a market capitalization of $662.91 million, a P/E ratio of -2.05 and a beta of -0.67. The stock has a fifty day moving average price of $23.65 and a 200 day moving average price of $28.89.

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

Insider Activity at GCI Liberty, Inc. - Series A GCI Group

In other GCI Liberty, Inc. - Series A GCI Group news, Director John Malone acquired 406,730 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $24.87 per share, for a total transaction of $10,115,375.10. Following the completion of the transaction, the director owned 2,423,250 shares of the company's stock, valued at approximately $60,266,227.50. This represents a 20.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have acquired 543,232 shares of company stock worth $13,582,081. 7.87% of the stock is owned by insiders.

Hedge Funds Weigh In On GCI Liberty, Inc. - Series A GCI Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in GCI Liberty, Inc. - Series A GCI Group by 6,245.6% in 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 during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in GCI Liberty, Inc. - Series A GCI Group in the 1st quarter worth $147,000. WINTON GROUP Ltd bought a new stake in GCI Liberty, Inc. - Series A GCI Group in the second quarter worth $210,000. R Squared Ltd bought a new stake in GCI Liberty, Inc. - Series A GCI Group in the first quarter worth $240,000. Finally, Moran Wealth Management LLC bought a new stake in GCI Liberty, Inc. - Series A GCI Group in the first quarter worth $281,000.

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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