M.D. Sass Investors Services Inc. lowered its stake in shares of GCI Liberty Inc (NASDAQ:GLIBA) by 30.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,886 shares of the company’s stock after selling 103,482 shares during the quarter. GCI Liberty comprises approximately 3.4% of M.D. Sass Investors Services Inc.’s holdings, making the stock its 13th largest holding. M.D. Sass Investors Services Inc. owned 0.22% of GCI Liberty worth $14,497,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP acquired a new position in GCI Liberty in the 1st quarter valued at approximately $3,492,000. State Board of Administration of Florida Retirement System raised its stake in shares of GCI Liberty by 2.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 143,350 shares of the company’s stock valued at $8,810,000 after purchasing an additional 3,386 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of GCI Liberty in the second quarter valued at $276,000. Gryphon Financial Partners LLC bought a new position in GCI Liberty in the second quarter worth $367,000. Finally, Jackson Square Partners LLC lifted its position in GCI Liberty by 107.7% in the first quarter. Jackson Square Partners LLC now owns 2,352,088 shares of the company’s stock worth $130,799,000 after purchasing an additional 1,219,442 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on GLIBA. Evercore ISI began coverage on shares of GCI Liberty in a report on Thursday, August 15th. They issued an “outperform” rating and a $70.00 price target on the stock. Benchmark assumed coverage on shares of GCI Liberty in a research note on Thursday, August 15th. They issued a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research downgraded shares of GCI Liberty from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. B. Riley lifted their target price on shares of GCI Liberty from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Pivotal Research set a $75.00 target price on shares of GCI Liberty and gave the company a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $68.67.
GLIBA stock traded up $0.11 during trading on Wednesday, hitting $63.68. The company had a trading volume of 19,371 shares, compared to its average volume of 294,082. The company has a fifty day moving average price of $60.70 and a two-hundred day moving average price of $59.31. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.75 billion, a P/E ratio of -40.26 and a beta of 1.37. GCI Liberty Inc has a fifty-two week low of $38.72 and a fifty-two week high of $64.96.
In other news, insider Albert E. Rosenthaler sold 1,075 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $59.99, for a total value of $64,489.25. Following the sale, the insider now owns 72,846 shares of the company’s stock, valued at approximately $4,370,031.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.78% of the company’s stock.
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.
Further Reading: Short Selling
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