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

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) announced its quarterly earnings data on Thursday. The company reported $0.40 earnings per share 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 Performance

Shares of GCI Liberty, Inc. – Series C GCI Group stock traded up $0.46 during trading hours on Thursday, hitting $23.95. 423,192 shares of the company’s stock traded hands, compared to its average volume of 480,204. The stock has a market capitalization of $858.61 million and a price-to-earnings ratio of -2.24. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.31 and a quick ratio of 3.31. GCI Liberty, Inc. – Series C GCI Group has a 12-month low of $19.30 and a 12-month high of $41.17. The company has a fifty day simple moving average of $21.88 and a 200-day simple moving average of $30.51.

Insider Activity

In other GCI Liberty, Inc. – Series C GCI Group news, CEO Ronald A. Duncan bought 65,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of $21.04 per share, for a total transaction of $1,367,600.00. Following the completion of the acquisition, the chief executive officer owned 42,516 shares of the company’s stock, valued at approximately $894,536.64. This trade represents a -289.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of GCI Liberty, Inc. – Series C GCI Group in the fourth quarter valued at $9,550,000. Invesco Ltd. increased its position in shares of GCI Liberty, Inc. – Series C GCI Group by 10.3% during the 4th quarter. Invesco Ltd. now owns 132,885 shares of the company’s stock valued at $4,945,000 after purchasing an additional 12,404 shares during the last quarter. Beartown Capital Management LLC purchased a new position in GCI Liberty, Inc. – Series C GCI Group during the fourth quarter worth $372,000. Elliott Investment Management L.P. boosted its stake in GCI Liberty, Inc. – Series C GCI Group by 38.4% during the fourth quarter. Elliott Investment Management L.P. now owns 659,928 shares of the company’s stock worth $24,556,000 after buying an additional 183,033 shares during the period. Finally, KKM Financial LLC bought a new position in GCI Liberty, Inc. – Series C GCI Group during the fourth quarter valued at $4,474,000.

Analyst Ratings Changes

Several research firms recently weighed in on GLIBK. Zacks Research raised GCI Liberty, Inc. – Series C GCI Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings cut shares of GCI Liberty, Inc. – Series C GCI Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

About GCI Liberty, Inc. – Series C GCI Group

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.