GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) Releases Quarterly Earnings Results, Misses Estimates By $0.75 EPS

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) posted its earnings results on Thursday. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.75), Zacks reports. GCI Liberty, Inc. – Series C GCI Group had a positive return on equity of 11.82% and a negative net margin of 32.53%.

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

Shares of GLIBK stock traded up $0.05 during trading hours on Friday, reaching $24.00. The stock had a trading volume of 345,165 shares, compared to its average volume of 460,005. The stock’s fifty day simple moving average is $21.91 and its 200 day simple moving average is $30.46. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.61. GCI Liberty, Inc. – Series C GCI Group has a 12 month low of $19.30 and a 12 month high of $41.17. The firm has a market capitalization of $860.40 million and a PE ratio of -2.13.

Insider Buying and Selling

In other news, CEO Ronald A. Duncan bought 65,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of $21.04 per share, with a total value of $1,367,600.00. Following the acquisition, the chief executive officer owned 42,516 shares of the company’s stock, valued at approximately $894,536.64. The trade was a -289.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. bought a new position in GCI Liberty, Inc. – Series C GCI Group in the 4th quarter worth about $308,000. Public Employees Retirement System of Ohio boosted its position in shares of GCI Liberty, Inc. – Series C GCI Group by 38.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,801 shares of the company’s stock valued at $365,000 after acquiring an additional 2,727 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of GCI Liberty, Inc. – Series C GCI Group during the 4th quarter valued at about $296,000. TD Asset Management Inc purchased a new position in shares of GCI Liberty, Inc. – Series C GCI Group during the fourth quarter worth about $324,000. Finally, Comerica Bank purchased a new position in shares of GCI Liberty, Inc. – Series C GCI Group during the third quarter worth about $212,000.

Analyst Ratings Changes

Several research firms recently commented on GLIBK. Weiss Ratings downgraded shares of GCI Liberty, Inc. – Series C GCI Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 21st. Zacks Research upgraded GCI Liberty, Inc. – Series C GCI Group from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. 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 has an average rating of “Reduce”.

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.