Wells Fargo & Company MN lifted its stake in General Communication, Inc. (NASDAQ:GNCMA) by 47.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,861 shares of the utilities provider’s stock after purchasing an additional 9,870 shares during the period. Wells Fargo & Company MN owned 0.09% of General Communication worth $1,259,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Simplex Trading LLC purchased a new stake in shares of General Communication in the 3rd quarter worth $179,000. Piedmont Investment Advisors LLC purchased a new stake in shares of General Communication in the 2nd quarter worth $212,000. Crossmark Global Holdings Inc. purchased a new stake in shares of General Communication in the 3rd quarter worth $250,000. Douglas Lane & Associates LLC purchased a new stake in shares of General Communication in the 3rd quarter worth $346,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of General Communication by 60.3% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,020 shares of the utilities provider’s stock worth $409,000 after purchasing an additional 3,770 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.
GNCMA has been the subject of a number of analyst reports. BidaskClub lowered General Communication from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Drexel Hamilton upgraded General Communication from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd.
Shares of General Communication, Inc. (NASDAQ:GNCMA) traded up $0.15 during mid-day trading on Wednesday, reaching $39.75. The company’s stock had a trading volume of 53,807 shares, compared to its average volume of 135,326. General Communication, Inc. has a 1-year low of $17.50 and a 1-year high of $44.11. The company has a debt-to-equity ratio of -511.65, a current ratio of 1.24 and a quick ratio of 1.19. The stock has a market cap of $1,438.87, a price-to-earnings ratio of -15.29 and a beta of 0.74.
In other news, Director Stephen R. Mooney sold 10,100 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $40.78, for a total transaction of $411,878.00. Following the completion of the transaction, the director now owns 56,400 shares in the company, valued at $2,299,992. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory F. Chapados sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $39.72, for a total value of $1,191,600.00. Following the transaction, the insider now owns 497,375 shares of the company’s stock, valued at approximately $19,755,735. The disclosure for this sale can be found here. Insiders sold a total of 52,500 shares of company stock valued at $2,114,818 in the last quarter. 15.28% of the stock is currently owned by company insiders.
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About General Communication
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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