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

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK)’s share price passed above its 50 day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a 50 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 changing hands.

The company reported $0.68 earnings per share (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%.

Wall Street Analysts Forecast Growth

GLIBK has been the subject of several recent research reports. Zacks Research upgraded GCI Liberty, Inc. – Series C GCI Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. 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. Finally, Wall Street Zen upgraded GCI Liberty, Inc. – Series C GCI Group to a “hold” rating in a research note on Saturday, October 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Insider Transactions at GCI Liberty, Inc. – Series C GCI Group

In other news, Director John C. Malone acquired 406,730 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $24.87 per share, with a total value of $10,115,375.10. Following the completion of the purchase, the director directly owned 2,423,250 shares of the company’s stock, valued at $60,266,227.50. The trade was a 20.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 543,232 shares of company stock valued at $13,582,081 over the last quarter.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLIBK. Commonwealth Equity Services LLC acquired a new stake in shares of GCI Liberty, Inc. – Series C GCI Group in the 3rd quarter valued at $263,000. Wedmont Private Capital increased its stake in shares of GCI Liberty, Inc. – Series C GCI Group by 64.0% in the 3rd quarter. Wedmont Private Capital now owns 28,291 shares of the company’s stock valued at $667,000 after purchasing an additional 11,045 shares during the last quarter. AXQ Capital LP raised its holdings in shares of GCI Liberty, Inc. – Series C GCI Group by 217.5% during the 2nd quarter. AXQ Capital LP now owns 83,962 shares of the company’s stock worth $1,810,000 after buying an additional 57,515 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of GCI Liberty, Inc. – Series C GCI Group by 2,965.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,207 shares of the company’s stock worth $48,000 after buying an additional 2,135 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of GCI Liberty, Inc. – Series C GCI Group by 50.9% during the 1st quarter. Bank of America Corp DE now owns 200,832 shares of the company’s stock worth $7,473,000 after buying an additional 67,739 shares in the last quarter.

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

The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $888.36 million, a price-to-earnings ratio of -2.20 and a beta of -0.86. The business has a fifty day moving average price of $23.36 and a 200 day moving average price of $28.40.

About GCI Liberty, Inc. – Series C GCI Group

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.