State Street Corp increased its stake in shares of General Communication, Inc. (NASDAQ:GNCMA) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,960 shares of the utilities provider’s stock after acquiring an additional 7,374 shares during the quarter. State Street Corp owned approximately 1.96% of General Communication worth $25,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Farallon Capital Management LLC bought a new position in General Communication during the 2nd quarter worth approximately $23,412,000. Northern Trust Corp grew its position in General Communication by 0.5% during the 2nd quarter. Northern Trust Corp now owns 384,633 shares of the utilities provider’s stock worth $14,092,000 after acquiring an additional 2,093 shares during the last quarter. Ratan Capital Management LP bought a new position in General Communication during the 2nd quarter worth approximately $12,213,000. Goldman Sachs Group Inc. grew its position in General Communication by 156.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 310,950 shares of the utilities provider’s stock worth $11,393,000 after acquiring an additional 189,494 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in General Communication in the 2nd quarter worth approximately $9,524,000. Institutional investors and hedge funds own 64.10% of the company’s stock.
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In other news, EVP G Wilson Hughes sold 3,630 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $42.16, for a total value of $153,040.80. Following the completion of the transaction, the executive vice president now owns 654,925 shares in the company, valued at approximately $27,611,638. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William C. Behnke sold 16,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $42.80, for a total value of $695,500.00. Following the completion of the transaction, the senior vice president now owns 165,662 shares of the company’s stock, valued at approximately $7,090,333.60. The disclosure for this sale can be found here. Company insiders own 15.28% of the company’s stock.
Shares of General Communication, Inc. (NASDAQ:GNCMA) opened at $40.49 on Tuesday. General Communication, Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $43.63. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of -511.65.
Separately, Drexel Hamilton upgraded General Communication from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd.
General Communication Company Profile
General Communication, Inc is a holding company. The Company, together with its subsidiaries, is a communications provider with operations primarily in the State of Alaska. The Company provides a range of wireless, data, video, voice and managed services to residential customers, businesses, governmental entities, and educational and medical institutions primarily in Alaska under its GCI brand.
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