Zacks Research Downgrades GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK) to Strong Sell

Key Points

• Zacks Research downgraded GLIBK from “hold” to “strong sell,” while Weiss Ratings also lowered its rating; MarketBeat reports an average analyst rating of “sell.”
• The stock opened at $25.71, up 3.1%, but its latest quarterly EPS of $0.40 missed the $1.15 consensus estimate by $0.75. The company reported a negative net margin of 32.53% and a price-to-earnings ratio of -2.29.
• Insiders purchased 609,732 shares worth approximately $14.98 million over the last quarter, including notable buys by CEO Ronald Duncan and director John Malone; several institutional investors also increased or initiated positions.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings lowered shares of GCI Liberty, Inc. - Series C GCI Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell".

GCI Liberty, Inc. - Series C GCI Group Stock Up 3.1%

Shares of GLIBK opened at $25.71 on Tuesday. 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 business has a fifty day moving average of $22.15 and a 200 day moving average of $30.15. The company has a market cap of $921.70 million and a PE ratio of -2.29. GCI Liberty, Inc. - Series C GCI Group has a 52-week low of $19.30 and a 52-week high of $41.17.

GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.75). GCI Liberty, Inc. - Series C GCI Group had a positive return on equity of 11.56% and a negative net margin of 32.53%. On average, sell-side analysts expect that GCI Liberty, Inc. - Series C GCI Group will post 2.58 EPS for the current year.

Insider Buying and Selling at GCI Liberty, Inc. - Series C GCI Group

In other GCI Liberty, Inc. - Series C GCI Group news, CEO Ronald A. Duncan acquired 65,000 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were purchased at an average cost of $21.04 per share, for a total transaction of $1,367,600.00. Following the completion of the purchase, the chief executive officer owned 42,516 shares in the company, valued at approximately $894,536.64. This trade represents a -289.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John C. Malone bought 66,702 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $25.57 per share, for a total transaction of $1,705,570.14. Following the transaction, the director directly owned 2,558,752 shares in the company, valued at approximately $65,427,288.64. This represents a 2.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 609,732 shares of company stock valued at $14,976,306 over the last quarter.

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

A number of institutional investors have recently modified their holdings of GLIBK. Northwestern Mutual Wealth Management Co. boosted its stake in GCI Liberty, Inc. - Series C GCI Group by 6,855,845.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,262,462 shares of the company's stock valued at $84,186,000 after acquiring an additional 2,262,429 shares in the last quarter. UBS Group AG acquired a new position in shares of GCI Liberty, Inc. - Series C GCI Group during the third quarter worth $77,195,000. Vanguard Group Inc. lifted its holdings in shares of GCI Liberty, Inc. - Series C GCI Group by 40.2% during the 4th quarter. Vanguard Group Inc. now owns 3,057,197 shares of the company's stock valued at $113,758,000 after purchasing an additional 876,902 shares during the last quarter. BROOKFIELD Corp ON acquired a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 4th quarter worth $27,029,000. Finally, Kontiki Capital Management HK Ltd. acquired a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 4th quarter worth $25,979,000.

About GCI Liberty, Inc. - Series C GCI Group

GCI Liberty Inc is an American holding company whose principal operating asset is a majority ownership interest in General Communication Inc, the largest integrated telecommunications provider in the state of Alaska. GCI Liberty was formed in December 2019 as a tracking stock of Liberty Interactive Group to hold certain communications and digital media investments. Its shares trade on the NASDAQ under the ticker symbol GLIBK.

Through its subsidiary, the company delivers high-speed broadband internet, cable and direct-to-home video distribution, fixed voice, and mobile wireless services to residential customers across Alaska.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source