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

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) released its quarterly earnings results on Thursday. The company reported $0.40 earnings per share (EPS) 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 12.74% and a negative net margin of 31.47%.

GCI Liberty, Inc. – Series C GCI Group Stock Down 1.1%

Shares of NASDAQ:GLIBK traded down $0.28 during mid-day trading on Friday, hitting $23.68. 84,764 shares of the company traded hands, compared to its average volume of 614,934. The firm’s 50 day simple moving average is $21.88 and its 200 day simple moving average is $30.51. The firm has a market cap of $848.75 million and a P/E ratio of -2.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.31 and a current ratio of 3.31. GCI Liberty, Inc. – Series C GCI Group has a 52-week low of $19.30 and a 52-week high of $41.17.

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

In other news, CEO Ronald A. Duncan bought 65,000 shares of GCI Liberty, Inc. – Series C GCI Group stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $21.04 per share, with a total value of $1,367,600.00. Following the completion of the transaction, the chief executive officer owned 42,516 shares in the company, valued at approximately $894,536.64. This trade represents a -289.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On GCI Liberty, Inc. – Series C GCI Group

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GLIBK shares. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, GCI Liberty, Inc. – Series C GCI Group currently 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.