Ruane Cunniff & Goldfarb L.P. Sells 32,344 Shares of GCI Liberty, Inc. – Series C GCI Group $GLIBK

Ruane Cunniff & Goldfarb L.P. reduced its stake in shares of GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 506,727 shares of the company’s stock after selling 32,344 shares during the quarter. GCI Liberty, Inc. – Series C GCI Group accounts for 0.3% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 25th biggest holding. Ruane Cunniff & Goldfarb L.P. owned approximately 1.41% of GCI Liberty, Inc. – Series C GCI Group worth $18,855,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GLIBK. Quarry LP bought a new stake in GCI Liberty, Inc. – Series C GCI Group during the third quarter worth about $30,000. FNY Investment Advisers LLC acquired a new position in shares of GCI Liberty, Inc. – Series C GCI Group in the 4th quarter valued at approximately $33,000. Fifth Third Bancorp acquired a new position in shares of GCI Liberty, Inc. – Series C GCI Group in the 1st quarter valued at approximately $38,000. Highlander Partners L.P. bought a new stake in shares of GCI Liberty, Inc. – Series C GCI Group during the 4th quarter worth approximately $63,000. Finally, State of Wyoming bought a new stake in shares of GCI Liberty, Inc. – Series C GCI Group during the 4th quarter worth approximately $73,000.

Insiders Place Their Bets

In related news, CEO Ronald A. Duncan bought 65,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of $21.04 per share, for a total transaction of $1,367,600.00. Following the completion of the transaction, the chief executive officer directly owned 42,516 shares of the company’s stock, valued at approximately $894,536.64. This represents a -289.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. 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 note on Thursday, May 21st. 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. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GCI Liberty, Inc. – Series C GCI Group currently has a consensus rating of “Reduce”.

GCI Liberty, Inc. – Series C GCI Group Stock Up 2.7%

GLIBK stock opened at $22.55 on Tuesday. The firm has a 50-day moving average price of $22.04 and a 200-day moving average price of $31.34. 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 current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $808.42 million and a P/E ratio of -2.11.

GCI Liberty, Inc. – Series C GCI Group (NASDAQ:GLIBK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.76). GCI Liberty, Inc. – Series C GCI Group had a negative net margin of 31.47% and a positive return on equity of 12.74%. As a group, equities research analysts anticipate that GCI Liberty, Inc. – Series C GCI Group will post 3.36 EPS for the current fiscal year.

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

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.