GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) Shares Climb 4.1% Following Dividend Announcement

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA)’s share price was up 4.1% on Thursday following a dividend announcement from the company. The stock traded as high as $28.51 and last traded at $28.5650. 640 shares traded hands during trading, a decline of 99% from the average session volume of 57,514 shares. The stock had previously closed at $27.43.

The newly announced dividend which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.3750 per share. The ex-dividend date is Monday, November 30th. This represents a $1.50 dividend on an annualized basis and a yield of 5.2%.

Wall Street Analysts Forecast Growth

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

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

The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.85 and a current ratio of 2.85. The company has a market capitalization of $826.22 million, a price-to-earnings ratio of 10.39 and a beta of -0.67. The company has a 50-day moving average price of $23.45 and a 200-day moving average price of $28.36.

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) last announced its quarterly 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). GCI Liberty, Inc. – Series A GCI Group had a net margin of 7.36% and a return on equity of 4.46%. The firm had revenue of $267.00 million during the quarter. On average, equities research analysts expect that GCI Liberty, Inc. – Series A GCI Group will post 2.36 EPS for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in GLIBA. Alberta Investment Management Corp acquired a new stake in shares of GCI Liberty, Inc. – Series A GCI Group in the third quarter valued at about $552,000. Russell Investments Group Ltd. boosted its position in GCI Liberty, Inc. – Series A GCI Group by 110.1% during the third quarter. Russell Investments Group Ltd. now owns 1,254 shares of the company’s stock valued at $29,000 after purchasing an additional 657 shares during the last quarter. Sterling Capital Management LLC grew 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 purchasing an additional 4,247 shares in the last quarter. Wedmont Private Capital bought a new position in GCI Liberty, Inc. – Series A GCI Group in the third quarter valued at approximately $336,000. Finally, State Street Corp grew its stake in GCI Liberty, Inc. – Series A GCI Group by 159.2% in the second quarter. State Street Corp now owns 175,280 shares of the company’s stock valued at $3,839,000 after purchasing an additional 107,649 shares in the last quarter.

About GCI Liberty, Inc. – Series A GCI Group

GCI Liberty, Inc. was a telecommunications holding company whose primary operating business was GCI, an Alaska-based provider of communications services. Through GCI, the company offered wireless and wireline voice, internet, data, and video services to residential, business, government, and wholesale customers across Alaska. GCI Liberty was formed in 2018 and ceased to operate as a standalone public company after merging with Liberty Broadband in 2020. Its former Series A shares traded on Nasdaq under the symbol GLIBA.