General Communication, Inc. (GNCMA) Raised to “Hold” at Drexel Hamilton
Drexel Hamilton upgraded shares of General Communication, Inc. (NASDAQ:GNCMA) from a sell rating to a hold rating in a research note published on Thursday morning, Marketbeat reports.
Shares of General Communication (NASDAQ:GNCMA) traded down $0.23 during mid-day trading on Thursday, reaching $41.03. 96,047 shares of the company’s stock traded hands, compared to its average volume of 88,270. The company has a debt-to-equity ratio of -542.75, a current ratio of 1.24 and a quick ratio of 1.55. General Communication has a 1 year low of $14.89 and a 1 year high of $43.63.
In other General Communication news, SVP William C. Behnke sold 16,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $42.80, for a total transaction of $695,500.00. Following the completion of the sale, the senior vice president now directly owns 165,662 shares in the company, valued at $7,090,333.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.28% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNCMA. Vestor Capital LLC acquired a new stake in shares of General Communication in the second quarter valued at approximately $134,000. Simplex Trading LLC acquired a new stake in shares of General Communication in the third quarter valued at approximately $179,000. Piedmont Investment Advisors LLC acquired a new stake in shares of General Communication in the second quarter valued at approximately $212,000. Municipal Employees Retirement System of Michigan raised its position in shares of General Communication by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,250 shares of the utilities provider’s stock valued at $229,000 after buying an additional 190 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of General Communication in the third quarter valued at approximately $250,000. Institutional investors own 63.46% of the company’s stock.
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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