Bank of America Corp DE increased its holdings in shares of GCI Liberty Inc (NASDAQ:GLIBA) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 394,221 shares of the company’s stock after acquiring an additional 52,080 shares during the quarter. Bank of America Corp DE owned about 0.37% of GCI Liberty worth $16,226,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearline Capital LP grew its holdings in shares of GCI Liberty by 46.5% in the third quarter. Clearline Capital LP now owns 100,333 shares of the company’s stock valued at $5,117,000 after purchasing an additional 31,856 shares during the period. Teachers Advisors LLC boosted its holdings in GCI Liberty by 0.5% in the 3rd quarter. Teachers Advisors LLC now owns 121,002 shares of the company’s stock valued at $6,171,000 after purchasing an additional 615 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of GCI Liberty in the 4th quarter valued at approximately $20,345,000. NFC Investments LLC purchased a new stake in shares of GCI Liberty in the 4th quarter valued at approximately $2,336,000. Finally, DAVENPORT & Co LLC increased its holdings in shares of GCI Liberty by 7.2% during the 4th quarter. DAVENPORT & Co LLC now owns 47,180 shares of the company’s stock worth $1,942,000 after buying an additional 3,151 shares during the last quarter. 88.46% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on GLIBA. Zacks Investment Research cut GCI Liberty from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. B. Riley boosted their price objective on shares of GCI Liberty to $66.00 and gave the company a “buy” rating in a report on Thursday, January 31st. Pivotal Research restated a “buy” rating and issued a $65.00 price objective on shares of GCI Liberty in a report on Tuesday, March 5th. Finally, Citigroup upped their target price on shares of GCI Liberty from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. GCI Liberty presently has a consensus rating of “Buy” and a consensus target price of $65.80.
NASDAQ:GLIBA opened at $57.28 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $5.99 billion and a P/E ratio of -36.25. GCI Liberty Inc has a fifty-two week low of $38.72 and a fifty-two week high of $57.53.
About GCI Liberty
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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