GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) Stock Price Up 9.1% – Here’s What Happened

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA)’s share price shot up 9.1% on Thursday. The company traded as high as $24.74 and last traded at $25.1580. 9,054 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 57,469 shares. The stock had previously closed at $23.07.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of GCI Liberty, Inc. – Series A GCI Group from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, GCI Liberty, Inc. – Series A GCI Group currently has a consensus rating of “Hold”.

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

The stock has a market capitalization of $755.67 million, a P/E ratio of 9.51 and a beta of -0.67. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $23.39 and a two-hundred day simple moving average of $28.52.

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) last issued its earnings results on Thursday, November 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.18). The business had revenue of $267.00 million during the quarter. GCI Liberty, Inc. – Series A GCI Group had a negative net margin of 32.53% and a positive return on equity of 11.56%. Sell-side analysts expect that GCI Liberty, Inc. – Series A GCI Group will post 2.58 EPS for the current fiscal year.

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

In other GCI Liberty, Inc. – Series A GCI Group news, Director John Malone bought 406,730 shares of the stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $24.87 per share, with a total value of $10,115,375.10. Following the acquisition, the director owned 2,423,250 shares of the company’s stock, valued at approximately $60,266,227.50. The trade was a 20.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 543,232 shares of company stock valued at $13,582,081 over the last quarter. 7.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in shares of GCI Liberty, Inc. – Series A GCI Group by 110.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,254 shares of the company’s stock worth $29,000 after purchasing an additional 657 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in GCI Liberty, Inc. – Series A GCI Group by 8.0% in the first quarter. Gamco Investors INC. ET AL now owns 13,793 shares of the company’s stock valued at $508,000 after purchasing an additional 1,023 shares during the last quarter. Gabelli Funds LLC lifted its stake in GCI Liberty, Inc. – Series A GCI Group by 6.1% in the first quarter. Gabelli Funds LLC now owns 22,010 shares of the company’s stock valued at $811,000 after buying an additional 1,260 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in GCI Liberty, Inc. – Series A GCI Group in the first quarter valued at about $147,000. Finally, Sterling Capital Management LLC lifted its stake in GCI Liberty, Inc. – Series A GCI Group by 6,245.6% in the third quarter. Sterling Capital Management LLC now owns 4,315 shares of the company’s stock valued at $100,000 after buying an additional 4,247 shares during the period.

About GCI Liberty, Inc. – Series A GCI Group

GCI Liberty, Inc was a holding company associated primarily with GCI Holdings, LLC, an Alaska-based telecommunications provider. Through GCI Holdings, the company offered broadband internet, wireless communications, video, voice, and data services to residential, business, government, and educational customers.

GCI served communities throughout Alaska, including areas where geography and limited infrastructure made telecommunications deployment challenging. Its services included high-speed internet, mobile and fixed wireless connectivity, cable television, local and long-distance voice services, enterprise networking, data transport, and communications solutions for public-sector and commercial customers.

GCI Liberty was created in 2018 in connection with the combination of Liberty Interactive and GCI Holdings.