GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) Shares Gap Up Following Insider Buying Activity

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) shares gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $20.71, but opened at $21.77. GCI Liberty, Inc. – Series C GCI Group shares last traded at $21.2950, with a volume of 111,393 shares.

Specifically, CEO Ronald A. Duncan acquired 65,000 shares of GCI Liberty, Inc. – Series C GCI Group stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $21.04 per share, with a total value of $1,367,600.00. Following the completion of the purchase, the chief executive officer owned 42,516 shares in the company, valued at $894,536.64. This trade represents a -289.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ronald A. Duncan bought 2,500 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $21.05 per share, with a total value of $52,625.00. Following the completion of the purchase, the chief executive officer owned 130,164 shares of the company’s stock, valued at $2,739,952.20. This represents a 1.96% increase in their position. The disclosure for this purchase is available in the SEC filing.

Analyst Upgrades and Downgrades

GLIBK has been the topic of several research reports. Weiss Ratings downgraded 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. Zacks Research cut shares of GCI Liberty, Inc. – Series C GCI Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, GCI Liberty, Inc. – Series C GCI Group currently has an average rating of “Sell”.

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

The stock has a market cap of $760.27 million and a price-to-earnings ratio of -1.98. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $31.28 and a 200-day simple moving average of $34.71.

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) last released its earnings results on Thursday, May 7th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.76). GCI Liberty, Inc. – Series C GCI Group had a negative net margin of 31.47% and a positive return on equity of 12.74%. Analysts forecast that GCI Liberty, Inc. – Series C GCI Group will post 3.36 EPS for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC bought a new stake in GCI Liberty, Inc. – Series C GCI Group during the 3rd quarter worth about $119,947,000. Northwestern Mutual Wealth Management Co. lifted its holdings 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 buying an additional 2,262,429 shares during the period. Vanguard Group Inc. bought a new position in GCI Liberty, Inc. – Series C GCI Group in the third quarter valued at approximately $81,260,000. UBS Group AG bought a new position in GCI Liberty, Inc. – Series C GCI Group in the third quarter valued at approximately $77,195,000. Finally, BROOKFIELD Corp ON acquired a new stake in GCI Liberty, Inc. – Series C GCI Group during the 4th quarter worth $27,029,000.

GCI Liberty, Inc. – Series C GCI Group Company Profile

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.