GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) Stock Breaks Above 50-Day Moving Average After Earnings Miss

GCI Liberty, Inc. – Series A GCI Group (NASDAQ:GLIBA) shares passed above its 50-day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a 50-day moving average of $23.39 and traded as high as $25.30. GCI Liberty, Inc. – Series A GCI Group shares last traded at $24.6870, with a volume of 112,911 shares trading hands.

The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.18). GCI Liberty, Inc. – Series A GCI Group had a positive return on equity of 11.56% and a negative net margin of 32.53%. The firm had revenue of $267.00 million during the quarter.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other GCI Liberty, Inc. – Series A GCI Group news, Director John Malone bought 406,730 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $24.87 per share, for a total transaction of $10,115,375.10. Following the transaction, the director directly owned 2,423,250 shares of the company’s stock, valued at approximately $60,266,227.50. This represents a 20.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 543,232 shares of company stock worth $13,582,081. Company insiders own 7.87% of the company’s stock.

Institutional Investors Weigh In On GCI Liberty, Inc. – Series A GCI Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its position in GCI Liberty, Inc. – Series A GCI Group by 8.0% during the first quarter. Gamco Investors INC. ET AL now owns 13,793 shares of the company’s stock worth $508,000 after acquiring an additional 1,023 shares during the period. Gabelli Funds LLC grew its position in shares of 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 purchasing an additional 1,260 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of GCI Liberty, Inc. – Series A GCI Group in the first quarter valued at about $147,000. Sterling Capital Management LLC grew its position in shares of 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 during the period. Finally, R Squared Ltd purchased a new stake in shares of GCI Liberty, Inc. – Series A GCI Group during the first quarter worth about $240,000.

GCI Liberty, Inc. – Series A GCI Group Stock Up 7.0%

The company has a debt-to-equity ratio of 0.73, a current ratio of 3.37 and a quick ratio of 3.37. The business’s 50 day moving average price is $23.39 and its 200 day moving average price is $28.58. The firm has a market cap of $708.52 million, a PE ratio of -2.19 and a beta of -0.67.

GCI Liberty, Inc. – Series A GCI Group Company Profile

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.