GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA) Stock Jumps 4.1% After Dividend Announcement

Key Points

• GLIBA shares rose 4.1% after a dividend announcement, reaching $28.565; trading volume was about 640 shares, 99% below its average.
• The company announced a $0.375-per-share dividend, equivalent to $1.50 annualized and a reported 5.2% yield. Shareholders of record November 30 were scheduled to be paid December 15.
• Quarterly EPS was $0.68, below the $0.86 consensus estimate. Zacks upgraded its rating from “strong sell” to “hold,” matching the stock’s average analyst rating.

GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) was up 4.1% during trading on Thursday after the company announced a dividend. The stock traded as high as $28.51 and last traded at $28.5650. Approximately 640 shares traded hands during trading, a decline of 99% from the average daily volume of 57,514 shares. The stock had previously closed at $27.43.The newly announced dividend which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $0.3750 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.2%.

Analyst Ratings Changes

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 note on Monday, October 5th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock has an average rating of "Hold".

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

The company has a debt-to-equity ratio of 0.65, a current ratio of 2.85 and a quick ratio of 2.85. The stock's fifty day simple moving average is $23.45 and its 200-day simple moving average is $28.36. The company has a market capitalization of $826.22 million, a P/E ratio of 10.39 and a beta of -0.67.

GCI Liberty, Inc. - Series A GCI Group (NASDAQ:GLIBA - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.18). The business had revenue of $267.00 million during the quarter. GCI Liberty, Inc. - Series A GCI Group had a net margin of 7.36% and a return on equity of 4.46%. On average, equities analysts forecast that GCI Liberty, Inc. - Series A GCI Group will post 2.36 earnings per share for the current fiscal year.

Institutional Trading of GCI Liberty, Inc. - Series A GCI Group

A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in GCI Liberty, Inc. - Series A GCI Group by 110.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,254 shares of the company's stock valued at $29,000 after buying an additional 657 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of GCI Liberty, Inc. - Series A GCI Group during the 1st quarter valued at about $147,000. Sterling Capital Management LLC boosted its position in shares of 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 valued at $100,000 after acquiring an additional 4,247 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of GCI Liberty, Inc. - Series A GCI Group during the 2nd quarter valued at about $210,000. Finally, Gamco Investors INC. ET AL increased its stake in GCI Liberty, Inc. - Series A GCI Group by 8.0% in the first quarter. Gamco Investors INC. ET AL now owns 13,793 shares of the company's stock valued at $508,000 after acquiring an additional 1,023 shares during the period.

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

GCI Liberty, Inc. was a telecommunications holding company whose primary operating business was GCI, an Alaska-based provider of communications services. Through GCI, the company offered wireless and wireline voice, internet, data, and video services to residential, business, government, and wholesale customers across Alaska. GCI Liberty was formed in 2018 and ceased to operate as a standalone public company after merging with Liberty Broadband in 2020. Its former Series A shares traded on Nasdaq under the symbol GLIBA.

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