Key Points
- CEO Ronald Duncan bought 65,000 shares of GCI Liberty Series C stock for about $1.37 million at an average price of $21.04 per share, according to an SEC filing.
- The stock was trading near $20.71, close to its 52-week low of $20.33 and well below its 52-week high of $41.17, while the company’s recent earnings missed analyst expectations.
- Despite the insider purchase, analysts remain cautious: GCI Liberty currently has a consensus Sell rating, and recent rating cuts came from Zacks Research and Weiss Ratings.
GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) CEO Ronald Duncan bought 65,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $21.04 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
GCI Liberty, Inc. - Series C GCI Group Price Performance
Shares of GLIBK opened at $20.71 on Friday. GCI Liberty, Inc. - Series C GCI Group has a fifty-two week low of $20.33 and a fifty-two week high of $41.17. The firm's 50 day moving average price is $31.28 and its 200 day moving average price is $34.71. The company has a market cap of $742.45 million and a P/E ratio of -1.93. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.61.
GCI Liberty, Inc. - Series C GCI Group (NASDAQ:GLIBK - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.76). GCI Liberty, Inc. - Series C GCI Group had a positive return on equity of 12.74% and a negative net margin of 31.47%. On average, research analysts forecast that GCI Liberty, Inc. - Series C GCI Group will post 3.36 earnings per share for the current fiscal year.
Institutional Investors Weigh In On GCI Liberty, Inc. - Series C GCI Group
A number of large investors have recently modified their holdings of GLIBK. Barclays PLC purchased a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 3rd quarter valued at approximately $119,947,000. Northwestern Mutual Wealth Management Co. increased its position in shares of GCI Liberty, Inc. - Series C GCI Group by 6,855,845.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,262,462 shares of the company's stock valued at $84,186,000 after purchasing an additional 2,262,429 shares during the last quarter. Vanguard Group Inc. purchased a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 3rd quarter valued at approximately $81,260,000. UBS Group AG purchased a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 3rd quarter valued at approximately $77,195,000. Finally, BROOKFIELD Corp ON purchased a new stake in shares of GCI Liberty, Inc. - Series C GCI Group in the 4th quarter valued at approximately $27,029,000.
Analysts Set New Price Targets
GLIBK has been the topic of several recent research reports. Zacks Research downgraded shares of GCI Liberty, Inc. - Series C GCI Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 14th. 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 note on Thursday, May 21st. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".
View Our Latest Analysis on GLIBK
GCI Liberty, Inc. - Series C GCI Group Company Profile
(
Get Free Report)
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.
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