GCI Liberty (NASDAQ:GLIBA) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports. The firm currently has a $80.00 price objective on the stock, up from their prior price objective of $76.00. Citigroup‘s price objective indicates a potential upside of 11.64% from the stock’s current price.
Several other research analysts have also commented on GLIBA. B. Riley boosted their price objective on GCI Liberty from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Pivotal Research set a $75.00 price objective on GCI Liberty and gave the stock a “buy” rating in a report on Friday, August 16th. Zacks Investment Research raised GCI Liberty from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Evercore ISI started coverage on GCI Liberty in a report on Thursday, August 15th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, ValuEngine lowered GCI Liberty from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $73.67.
GLIBA stock traded up $3.62 during mid-day trading on Tuesday, reaching $71.66. 20,422 shares of the company traded hands, compared to its average volume of 352,063. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $7.22 billion, a P/E ratio of -44.97 and a beta of 1.39. GCI Liberty has a 52-week low of $38.72 and a 52-week high of $70.78. The company has a fifty day moving average price of $66.08 and a 200-day moving average price of $62.27.
In related news, insider Albert E. Rosenthaler sold 1,075 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $59.99, for a total value of $64,489.25. Following the completion of the sale, the insider now owns 72,846 shares in the company, valued at approximately $4,370,031.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald A. Duncan sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $63.76, for a total value of $3,188,000.00. 8.78% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in GCI Liberty by 3.2% in the second quarter. BlackRock Inc. now owns 4,919,998 shares of the company’s stock valued at $302,383,000 after purchasing an additional 154,167 shares during the last quarter. River Road Asset Management LLC boosted its position in shares of GCI Liberty by 13.9% during the third quarter. River Road Asset Management LLC now owns 1,690,809 shares of the company’s stock valued at $104,949,000 after buying an additional 206,080 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of GCI Liberty by 61.8% during the second quarter. Janus Henderson Group PLC now owns 1,466,545 shares of the company’s stock valued at $90,134,000 after buying an additional 559,940 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of GCI Liberty during the second quarter valued at $30,924,000. Finally, Russell Investments Group Ltd. boosted its position in shares of GCI Liberty by 27.3% during the second quarter. Russell Investments Group Ltd. now owns 480,455 shares of the company’s stock valued at $29,519,000 after buying an additional 103,078 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.
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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