General Communication, Inc. (NASDAQ:GNCMA) was the recipient of a large drop in short interest during the month of December. As of December 29th, there was short interest totalling 358,158 shares, a drop of 38.9% from the December 15th total of 585,940 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average daily volume of 75,865 shares, the days-to-cover ratio is presently 4.7 days.

In other General Communication news, Director Stephen R. Mooney sold 10,100 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $40.78, for a total transaction of $411,878.00. Following the completion of the transaction, the director now owns 56,400 shares in the company, valued at approximately $2,299,992. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $153,040.80. Following the transaction, the executive vice president now owns 654,925 shares of the company’s stock, valued at approximately $27,611,638. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,130 shares of company stock valued at $2,267,859. Company insiders own 15.28% of the company’s stock.

Several large investors have recently added to or reduced their stakes in GNCMA. Legal & General Group Plc increased its stake in shares of General Communication by 16.8% in the 2nd quarter. Legal & General Group Plc now owns 50,938 shares of the utilities provider’s stock valued at $1,866,000 after acquiring an additional 7,339 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of General Communication by 13.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,078 shares of the utilities provider’s stock valued at $296,000 after acquiring an additional 954 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of General Communication by 3.7% in the 2nd quarter. Principal Financial Group Inc. now owns 208,717 shares of the utilities provider’s stock valued at $7,647,000 after acquiring an additional 7,451 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of General Communication by 357.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,543 shares of the utilities provider’s stock valued at $3,830,000 after acquiring an additional 81,669 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of General Communication in the 2nd quarter valued at $462,000. Institutional investors own 64.11% of the company’s stock.

Shares of General Communication (NASDAQ:GNCMA) opened at $41.40 on Monday. The firm has a market cap of $1,494.46, a price-to-earnings ratio of -15.98 and a beta of 0.58. The company has a debt-to-equity ratio of -511.65, a current ratio of 1.24 and a quick ratio of 1.19. General Communication has a one year low of $17.50 and a one year high of $43.63.

General Communication (NASDAQ:GNCMA) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported ($0.25) earnings per share for the quarter. General Communication had a negative net margin of 9.70% and a negative return on equity of 618.31%.

Several research analysts have issued reports on GNCMA shares. BidaskClub lowered shares of General Communication from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Drexel Hamilton upgraded shares of General Communication from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd.

COPYRIGHT VIOLATION NOTICE: “General Communication, Inc. (GNCMA) Sees Large Drop in Short Interest” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://www.dailypolitical.com/2018/01/15/general-communication-inc-gncma-sees-large-drop-in-short-interest.html.

About General Communication

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.

Receive News & Ratings for General Communication Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Communication and related companies with MarketBeat.com's FREE daily email newsletter.