Morgan Stanley trimmed its stake in shares of GCI Liberty Inc (NASDAQ:GLIBA) by 15.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,104 shares of the company’s stock after selling 31,714 shares during the quarter. Morgan Stanley’s holdings in GCI Liberty were worth $10,639,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. boosted its position in shares of GCI Liberty by 308.8% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,574 shares of the company’s stock worth $97,000 after acquiring an additional 1,189 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of GCI Liberty during the 2nd quarter worth about $213,000. Comerica Bank acquired a new position in shares of GCI Liberty during the 2nd quarter worth about $216,000. Waldron Private Wealth LLC boosted its position in shares of GCI Liberty by 7.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 4,392 shares of the company’s stock worth $269,000 after acquiring an additional 317 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of GCI Liberty during the 2nd quarter worth about $276,000. 87.86% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ GLIBA traded down $0.38 during trading hours on Monday, reaching $64.11. The stock had a trading volume of 733 shares, compared to its average volume of 429,947. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -40.65 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.40. GCI Liberty Inc has a fifty-two week low of $38.72 and a fifty-two week high of $65.59. The firm has a 50-day moving average of $62.95 and a 200-day moving average of $60.66.
GCI Liberty (NASDAQ:GLIBA) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.47). The firm had revenue of $217.57 million during the quarter, compared to analyst estimates of $216.00 million. GCI Liberty had a net margin of 83.86% and a negative return on equity of 5.83%. On average, equities analysts predict that GCI Liberty Inc will post -2.46 EPS for the current year.
GLIBA has been the subject of several analyst reports. Pivotal Research set a $75.00 price objective on GCI Liberty and gave the stock a “buy” rating in a research report on Friday, August 16th. Citigroup upped their price objective on GCI Liberty from $63.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Evercore ISI initiated coverage on GCI Liberty in a research report on Thursday, August 15th. They set an “outperform” rating and a $70.00 price objective for the company. Benchmark initiated coverage on GCI Liberty in a research report on Thursday, August 15th. They set a “buy” rating and a $70.00 price objective for the company. Finally, ValuEngine cut GCI Liberty from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $70.67.
In other GCI Liberty news, insider Albert E. Rosenthaler sold 1,075 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $59.99, for a total transaction of $64,489.25. Following the completion of the sale, the insider now directly owns 72,846 shares of the company’s stock, valued at approximately $4,370,031.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald A. Duncan sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $63.76, for a total value of $3,188,000.00. 8.78% of the stock is owned by corporate insiders.
GCI Liberty Company Profile
GCI Liberty, Inc, together with its subsidiaries, provides various communication services in the United States. The company offers data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions. It also operates a digital invitation platform that provides custom display advertising, native advertising content, custom video, and brand partnership services.
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