General Communication, Inc. (GNCMA) Sees Large Drop in Short Interest
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.
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.
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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.
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