General Communication, Inc. (GNCMA) Stake Boosted by Pinebridge Investments L.P.
Pinebridge Investments L.P. increased its holdings in General Communication, Inc. (NASDAQ:GNCMA) by 807.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,360 shares of the utilities provider’s stock after acquiring an additional 27,906 shares during the period. Pinebridge Investments L.P. owned about 0.09% of General Communication worth $1,149,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in GNCMA. Municipal Employees Retirement System of Michigan lifted its stake in General Communication by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,250 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 190 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of General Communication by 3.9% during the second quarter. Great West Life Assurance Co. Can now owns 39,944 shares of the utilities provider’s stock worth $1,463,000 after acquiring an additional 1,500 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of General Communication by 1.7% during the second quarter. Texas Permanent School Fund now owns 19,506 shares of the utilities provider’s stock worth $715,000 after acquiring an additional 334 shares in the last quarter. Arizona State Retirement System lifted its position in shares of General Communication by 1.5% during the second quarter. Arizona State Retirement System now owns 13,965 shares of the utilities provider’s stock worth $512,000 after acquiring an additional 200 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of General Communication during the second quarter worth $1,429,000. 63.71% of the stock is owned by institutional investors.
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In related news, SVP William C. Behnke sold 16,250 shares of General Communication stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $42.80, for a total transaction of $695,500.00. Following the transaction, the senior vice president now owns 165,662 shares in the company, valued at approximately $7,090,333.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 15.28% of the company’s stock.
Shares of General Communication, Inc. (GNCMA) opened at 40.73 on Thursday. The stock’s market cap is $1.47 billion. General Communication, Inc. has a 12 month low of $12.83 and a 12 month high of $43.63. The company has a 50 day moving average price of $42.25 and a 200-day moving average price of $35.71.
General Communication Profile
General Communication, Inc is a holding company. The Company, together with its subsidiaries, is a communications provider with operations primarily in the State of Alaska. The Company provides a range of wireless, data, video, voice and managed services to residential customers, businesses, governmental entities, and educational and medical institutions primarily in Alaska under its GCI brand.
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