Principal Financial Group Inc. lowered its position in shares of General Communication, Inc. (NASDAQ:GNCMA) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,387 shares of the utilities provider’s stock after selling 9,330 shares during the quarter. Principal Financial Group Inc. owned 0.55% of General Communication worth $8,133,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Vestor Capital LLC purchased a new position in shares of General Communication in the 2nd quarter valued at about $134,000. Simplex Trading LLC purchased a new position in shares of General Communication in the 3rd quarter valued at about $179,000. Piedmont Investment Advisors LLC purchased a new position in shares of General Communication in the 2nd quarter valued at about $212,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of General Communication by 3.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,250 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 190 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of General Communication in the 3rd quarter valued at about $250,000. Institutional investors own 64.87% of the company’s stock.
In related news, CFO Peter Pounds sold 5,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $41.44, for a total value of $207,200.00. Following the sale, the chief financial officer now directly owns 208,666 shares of the company’s stock, valued at approximately $8,647,119.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP G Wilson Hughes sold 3,630 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $42.16, for a total transaction of $153,040.80. Following the completion of the sale, the executive vice president now directly owns 654,925 shares in the company, valued at $27,611,638. The disclosure for this sale can be found here. 15.28% of the stock is currently owned by corporate insiders.
General Communication, Inc. (GNCMA) opened at $39.45 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of -511.65. General Communication, Inc. has a twelve month low of $17.45 and a twelve month high of $43.63.
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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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