Magnetar Financial LLC Has $44.67 Million Position in General Communication, Inc. (GNCMA)
Magnetar Financial LLC boosted its holdings in General Communication, Inc. (NASDAQ:GNCMA) by 18.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,095,148 shares of the utilities provider’s stock after purchasing an additional 166,726 shares during the period. Magnetar Financial LLC owned about 3.03% of General Communication worth $44,671,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of GNCMA. Farallon Capital Management LLC purchased a new position in General Communication in the second quarter worth $23,412,000. Ratan Capital Management LP purchased a new position in General Communication in the second quarter worth $12,213,000. CNH Partners LLC purchased a new position in General Communication in the second quarter worth $9,671,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in General Communication in the second quarter worth $9,524,000. Finally, Tocqueville Asset Management L.P. purchased a new position in General Communication in the third quarter worth $8,799,000. 64.87% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Peter Pounds sold 5,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $41.44, for a total transaction of $207,200.00. Following the transaction, the chief financial officer now owns 208,666 shares of the company’s stock, valued at approximately $8,647,119.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP G Wilson Hughes sold 3,630 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $42.16, for a total value of $153,040.80. Following the transaction, the executive vice president now directly owns 654,925 shares in the company, valued at approximately $27,611,638. The disclosure for this sale can be found here. 15.28% of the stock is owned by corporate insiders.
Separately, Drexel Hamilton raised General Communication from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd.
About General Communication
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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