Gabelli Funds LLC boosted its holdings in General Communication, Inc. (NASDAQ:GNCMA) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,628 shares of the utilities provider’s stock after purchasing an additional 24,234 shares during the quarter. Gabelli Funds LLC owned about 0.44% of General Communication worth $6,470,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in GNCMA. Municipal Employees Retirement System of Michigan raised its position in General Communication by 3.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,250 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 190 shares during the last quarter. Great West Life Assurance Co. Can raised its position in General Communication by 3.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 39,944 shares of the utilities provider’s stock worth $1,463,000 after buying an additional 1,500 shares during the last quarter. Texas Permanent School Fund raised its position in General Communication by 1.7% during the 2nd quarter. Texas Permanent School Fund now owns 19,506 shares of the utilities provider’s stock worth $715,000 after buying an additional 334 shares during the last quarter. Arizona State Retirement System raised its position in General Communication by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 13,965 shares of the utilities provider’s stock worth $512,000 after buying an additional 200 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new position in General Communication during the 2nd quarter worth $1,429,000. Hedge funds and other institutional investors own 64.07% of the company’s stock.
Separately, Drexel Hamilton upgraded shares of General Communication from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd.
Shares of General Communication, Inc. (NASDAQ:GNCMA) opened at $40.44 on Friday. General Communication, Inc. has a 12 month low of $16.33 and a 12 month high of $43.63. The company has a debt-to-equity ratio of -511.65, a quick ratio of 1.19 and a current ratio of 1.24.
In other news, EVP G Wilson Hughes sold 3,630 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $42.16, for a total transaction of $153,040.80. Following the transaction, the executive vice president now directly owns 654,925 shares in the company, valued at approximately $27,611,638. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William C. Behnke sold 16,250 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $42.80, for a total transaction of $695,500.00. Following the transaction, the senior vice president now owns 165,662 shares in the company, valued at $7,090,333.60. The disclosure for this sale can be found here. 15.28% of the stock is owned by company insiders.
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General Communication Company Profile
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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