GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK) Share Price Crosses Above 50-Day Moving Average on Disappointing Earnings

Key Points

• Shares rose above their 50-day moving average, reaching $25.55 intraday and last trading at $24.78, above the $23.36 average.
• Quarterly EPS was $0.68, below analyst estimates of $0.86. Analysts’ consensus rating for the stock is “Reduce.”
• Director John C. Malone bought 406,730 shares for about $10.1 million; company insiders purchased 543,232 shares worth about $13.6 million during the quarter.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report)'s share price passed above its fifty day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a fifty day moving average of $23.36 and traded as high as $25.55. GCI Liberty, Inc. - Series C GCI Group shares last traded at $24.78, with a volume of 437,232 shares trading hands.

The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.18). GCI Liberty, Inc. - Series C GCI Group had a positive return on equity of 11.56% and a negative net margin of 32.53%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GLIBK shares. Wall Street Zen raised shares of GCI Liberty, Inc. - Series C GCI Group to a "hold" rating in a research note on Saturday, October 17th. Zacks Research upgraded shares of GCI Liberty, Inc. - Series C GCI Group from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of GCI Liberty, Inc. - Series C GCI Group in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce".

Insider Buying and Selling

In related news, Director John C. Malone purchased 406,730 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $24.87 per share, for a total transaction of $10,115,375.10. Following the purchase, the director owned 2,423,250 shares in the company, valued at approximately $60,266,227.50. This represents a 20.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have bought 543,232 shares of company stock valued at $13,582,081.

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

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in GCI Liberty, Inc. - Series C GCI Group by 36.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,504,923 shares of the company's stock worth $55,996,000 after buying an additional 398,769 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of GCI Liberty, Inc. - Series C GCI Group by 428.7% during the first quarter. Renaissance Technologies LLC now owns 245,300 shares of the company's stock worth $9,128,000 after buying an additional 198,900 shares in the last quarter. S&CO Inc. boosted its position in shares of GCI Liberty, Inc. - Series C GCI Group by 196.1% in the first quarter. S&CO Inc. now owns 134,052 shares of the company's stock valued at $4,988,000 after acquiring an additional 88,777 shares during the period. Walleye Capital LLC bought a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the first quarter valued at about $3,022,000. Finally, Amundi bought a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the first quarter valued at about $2,818,000.

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

The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.73. The company's 50 day moving average is $23.36 and its 200 day moving average is $28.40. The firm has a market capitalization of $888.36 million, a price-to-earnings ratio of -2.20 and a beta of -0.86.

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

GCI Liberty, Inc was a holding company whose principal operating business was GCI Holdings, LLC, an Alaska-based telecommunications provider. Through GCI, the company offered wireless and wireline communications, broadband internet, data networking, video and voice services to residential, business, government and institutional customers.

GCI operated across Alaska, serving communities throughout the state, including locations that can be difficult to reach through traditional terrestrial communications infrastructure.

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