GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK) Stock Price Down 0.9% - Here's What Happened

Key Points

• GLIBK shares fell 0.9% to $23.34 in Monday trading, with about 302,677 shares changing hands.
• Analyst sentiment worsened as Zacks Research downgraded the stock to “strong sell,” while Weiss Ratings maintained a “sell” rating; MarketBeat reports an overall “Sell” consensus.
• The company reported quarterly earnings of $0.40 per share, well below the $1.15 analyst estimate, although insiders purchased 543,232 shares worth approximately $13.6 million over the past 90 days.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report)'s stock price was down 0.9% during trading on Monday. The stock traded as low as $23.05 and last traded at $23.34. Approximately 302,677 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 313,346 shares. The stock had previously closed at $23.55.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GLIBK. Zacks Research cut GCI Liberty, Inc. - Series C GCI Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d)" rating on shares of GCI Liberty, Inc. - Series C GCI Group in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, GCI Liberty, Inc. - Series C GCI Group presently has an average rating of "Sell".

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

The stock has a market capitalization of $836.74 million, a PE ratio of -2.07 and a beta of -1.02. 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's fifty day moving average is $24.78 and its 200-day moving average is $27.15.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - 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 C GCI Group had a negative net margin of 32.53% and a positive return on equity of 11.56%. As a group, equities analysts predict that GCI Liberty, Inc. - Series C GCI Group will post 2.58 earnings per share for the current fiscal year.

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

In other GCI Liberty, Inc. - Series C GCI Group news, Director John C. Malone purchased 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $26.00 per share, for a total transaction of $26,000.00. Following the purchase, the director directly owned 2,559,752 shares in the company, valued at approximately $66,553,552. This trade represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders bought 543,232 shares of company stock worth $13,582,081.

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

A number of hedge funds have recently bought and sold shares of the business. Kontiki Capital Management HK Ltd. acquired a new stake in GCI Liberty, Inc. - Series C GCI Group in the 4th quarter valued at $25,979,000. Alberta Investment Management Corp raised its position in GCI Liberty, Inc. - Series C GCI Group by 65.8% during the fourth quarter. Alberta Investment Management Corp now owns 1,044,254 shares of the company's stock worth $38,857,000 after acquiring an additional 414,254 shares during the period. Dimensional Fund Advisors LP raised its position in GCI Liberty, Inc. - Series C GCI Group by 36.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,504,923 shares of the company's stock worth $55,996,000 after acquiring an additional 398,769 shares during the period. Renaissance Technologies LLC lifted its holdings in 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 valued at $9,128,000 after purchasing an additional 198,900 shares in the last quarter. Finally, Barclays PLC grew its position in shares of GCI Liberty, Inc. - Series C GCI Group by 5.2% in the fourth quarter. Barclays PLC now owns 3,386,430 shares of the company's stock valued at $126,009,000 after purchasing an additional 168,113 shares during the period.

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 broadband internet, wireless communications, video and voice services, data networking, and related communications solutions to residential, business, government and carrier customers.

GCI served communities throughout Alaska, including remote and rural areas where communications infrastructure can be challenging to develop.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.