GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA) Stock Falls 4.6% - Here's Why

Key Points

• GLIBA shares fell 4.6% to approximately $22.50 in thin trading, with volume down 94% from the average daily level.
• Zacks Research upgraded the stock from “strong sell” to “hold,” while the company’s latest quarterly earnings of $0.40 per share missed the $1.15 analyst consensus; revenue was $261 million.
• Insiders purchased 543,232 shares worth $13.6 million over the past three months, including Director John Malone’s 1,000-share purchase, while several institutional investors increased their holdings.

Shares of GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) traded down 4.6% during mid-day trading on Friday. The company traded as low as $22.61 and last traded at $22.4950. 3,313 shares changed hands during trading, a decline of 94% from the average daily volume of 58,196 shares. The stock had previously closed at $23.59.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised GCI Liberty, Inc. - Series A GCI Group from a "strong sell" rating to a "hold" rating in a research report on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

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

The firm has a market capitalization of $613.86 million, a P/E ratio of -1.90 and a beta of -0.70. The stock has a 50 day moving average of $25.18 and a two-hundred day moving average of $26.63. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.37 and a current ratio of 3.37.

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

Insider Activity

In other news, Director John Malone bought 1,000 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $26.00 per share, for a total transaction of $26,000.00. Following the transaction, the director owned 2,559,752 shares of the company's stock, valued at $66,553,552. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 543,232 shares of company stock valued at $13,582,081 in the last three months. Insiders own 7.87% of the company's stock.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in GCI Liberty, Inc. - Series A GCI Group by 29.7% during the first 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. Quantinno Capital Management LP raised its holdings in shares of 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 valued at $4,737,000 after acquiring an additional 56,675 shares in the last quarter. State Street Corp grew its position in GCI Liberty, Inc. - Series A GCI Group by 159.2% in the second quarter. State Street Corp now owns 175,280 shares of the company's stock worth $3,839,000 after acquiring an additional 107,649 shares in the last quarter. Virtu Financial LLC raised its stake in shares of GCI Liberty, Inc. - Series A GCI Group by 324.9% during the fourth quarter. Virtu Financial LLC now owns 30,645 shares of the company's stock worth $1,130,000 after acquiring an additional 23,432 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of GCI Liberty, Inc. - Series A GCI Group by 6.1% during the first quarter. Gabelli Funds LLC now owns 22,010 shares of the company's stock valued at $811,000 after buying an additional 1,260 shares during the last quarter.

GCI Liberty, Inc. - Series A GCI Group Company Profile

GCI Liberty, Inc was a holding company whose Series A GCI Group tracking stock represented an interest in GCI Holdings, LLC, an Alaska-based telecommunications and media company. GCI Liberty was formed in 2018 through the separation of GCI Holdings from Liberty Interactive Corporation.

Through GCI Holdings, the company provided wireless communications, broadband internet, video, voice, data networking, and managed services. GCI served residential, business, government, and wholesale customers across Alaska, including communities where telecommunications infrastructure can be difficult to develop.

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