GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK) Share Price Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• GLIBK fell below its 200-day moving average, trading as low as $27.34 versus the average of $28.11, and last traded at $27.39.
• Analyst views were mixed, but MarketBeat data showed an average rating of “Reduce”. The company also missed quarterly earnings expectations, reporting $0.68 per share against a $0.86 estimate.
• The company announced a quarterly dividend of $0.375 per share, equivalent to $1.50 annually and a 5.5% yield.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) shares crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $28.11 and traded as low as $27.34. GCI Liberty, Inc. - Series C GCI Group shares last traded at $27.39, with a volume of 371,109 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GLIBK shares. Wall Street Zen raised shares of GCI Liberty, Inc. - Series C GCI Group to a "hold" rating in a research report on Saturday, October 17th. Weiss Ratings upgraded shares of GCI Liberty, Inc. - Series C GCI Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday. Finally, Zacks Research raised shares of GCI Liberty, Inc. - Series C GCI Group from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce".

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

The business has a 50 day moving average of $23.55 and a 200-day moving average of $28.11. The company has a market capitalization of $981.93 million, a P/E ratio of 9.89 and a beta of -0.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.85 and a current ratio of 2.85.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.18). GCI Liberty, Inc. - Series C GCI Group had a return on equity of 4.46% and a net margin of 7.36%. On average, sell-side analysts predict that GCI Liberty, Inc. - Series C GCI Group will post 2.36 EPS for the current fiscal year.

GCI Liberty, Inc. - Series C GCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, November 30th.

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

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in GCI Liberty, Inc. - Series C GCI Group by 36.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,504,923 shares of the company's stock worth $55,996,000 after purchasing an additional 398,769 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in GCI Liberty, Inc. - Series C GCI Group by 428.7% in the 1st quarter. Renaissance Technologies LLC now owns 245,300 shares of the company's stock valued at $9,128,000 after purchasing an additional 198,900 shares during the period. Bank of America Corp DE grew its position in shares of GCI Liberty, Inc. - Series C GCI Group by 50.9% during the 1st quarter. Bank of America Corp DE now owns 200,832 shares of the company's stock valued at $7,473,000 after purchasing an additional 67,739 shares in the last quarter. Gabelli Funds LLC grew its position in shares of GCI Liberty, Inc. - Series C GCI Group by 10.8% during the 1st quarter. Gabelli Funds LLC now owns 181,759 shares of the company's stock valued at $6,763,000 after purchasing an additional 17,773 shares in the last quarter. Finally, S&CO Inc. grew its position in shares of GCI Liberty, Inc. - Series C GCI Group by 196.1% during the 1st quarter. S&CO Inc. now owns 134,052 shares of the company's stock valued at $4,988,000 after purchasing an additional 88,777 shares in the last quarter.

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

GCI Liberty, Inc. – Series C GCI Group NASDAQ: GLIBK was a tracking stock associated with GCI Liberty's GCI Group, rather than a separate operating business. The group's principal business was GCI, an Alaska-based telecommunications provider serving residential, business, government and educational customers. GCI offered wireless and wireline communications, broadband internet, video, voice and data services. Its network and services served communities across Alaska, including areas where telecommunications infrastructure can be challenging to build and maintain.

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