BidaskClub Downgrades General Communication (GNCMA) to Hold

General Communication (NASDAQ:GNCMA) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Drexel Hamilton raised General Communication from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd.

General Communication (GNCMA) traded up $0.23 during midday trading on Thursday, hitting $39.68. The stock had a trading volume of 211,945 shares, compared to its average volume of 225,015. 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 has a 1 year low of $17.45 and a 1 year high of $43.63.

In related news, CFO Peter Pounds sold 5,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $41.44, for a total transaction of $207,200.00. Following the completion of the transaction, the chief financial officer now directly owns 208,666 shares of the company’s stock, valued at $8,647,119.04. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP G Wilson Hughes sold 3,630 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $42.16, for a total value of $153,040.80. Following the transaction, the executive vice president now directly owns 654,925 shares of the company’s stock, valued at $27,611,638. The disclosure for this sale can be found here. Corporate insiders own 15.28% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GNCMA. P Schoenfeld Asset Management LP bought a new stake in shares of General Communication in the 2nd quarter valued at approximately $2,896,000. Dupont Capital Management Corp bought a new stake in shares of General Communication in the 2nd quarter valued at approximately $1,429,000. Legal & General Group Plc lifted its stake in shares of General Communication by 16.8% in the 2nd quarter. Legal & General Group Plc now owns 50,938 shares of the utilities provider’s stock valued at $1,866,000 after purchasing an additional 7,339 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of General Communication in the 2nd quarter valued at approximately $1,231,000. Finally, Bluefin Trading LLC bought a new stake in shares of General Communication in the 2nd quarter valued at approximately $965,000. 64.87% of the stock is owned by institutional investors.

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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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