California Public Employees Retirement System Has $8.35 Million Position in General Communication, Inc. (NASDAQ:GNCMA)

California Public Employees Retirement System trimmed its holdings in General Communication, Inc. (NASDAQ:GNCMA) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 204,611 shares of the utilities provider’s stock after selling 12,562 shares during the period. California Public Employees Retirement System owned about 0.57% of General Communication worth $8,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Farallon Capital Management LLC purchased a new stake in General Communication during the second quarter worth about $23,412,000. Ratan Capital Management LP purchased a new position in shares of General Communication in the second quarter worth about $12,213,000. CNH Partners LLC purchased a new position in General Communication during the second quarter valued at approximately $9,671,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in General Communication during the second quarter valued at approximately $9,524,000. Finally, Tocqueville Asset Management L.P. purchased a new position in General Communication during the third quarter valued at approximately $8,799,000. 64.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Communication, Inc. (GNCMA) opened at $41.40 on Tuesday. The firm has a market cap of $1,490.00, a PE ratio of -16.11 and a beta of 0.58. General Communication, Inc. has a 1 year low of $17.50 and a 1 year high of $43.63. The company has a debt-to-equity ratio of -511.65, a current ratio of 1.24 and a quick ratio of 1.19.

General Communication (NASDAQ:GNCMA) last posted its earnings results on Wednesday, November 1st. The utilities provider reported ($0.25) earnings per share (EPS) for the quarter. General Communication had a negative net margin of 9.70% and a negative return on equity of 618.31%.

Several equities research analysts have issued reports on the stock. BidaskClub lowered shares of General Communication from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Drexel Hamilton upgraded shares of General Communication from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd.

In other news, EVP G Wilson Hughes sold 3,630 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $42.16, for a total transaction of $153,040.80. Following the completion of the transaction, the executive vice president now directly owns 654,925 shares in the company, valued at approximately $27,611,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter Pounds sold 5,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $41.44, for a total value of $207,200.00. Following the transaction, the chief financial officer now owns 208,666 shares of the company’s stock, valued at $8,647,119.04. The disclosure for this sale can be found here. Insiders sold a total of 56,130 shares of company stock worth $2,267,859 in the last quarter. Company insiders own 15.28% of the company’s stock.

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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.

Institutional Ownership by Quarter for General Communication (NASDAQ:GNCMA)

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