General Communication, Inc. (GNCMA) Sees Large Drop in Short Interest

General Communication, Inc. (NASDAQ:GNCMA) was the target of a significant decline in short interest in December. As of December 29th, there was short interest totalling 358,158 shares, a decline of 38.9% from the December 15th total of 585,940 shares. Based on an average trading volume of 75,865 shares, the short-interest ratio is currently 4.7 days. Currently, 1.5% of the shares of the stock are short sold.

In related news, CFO Peter Pounds sold 5,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was 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 in the company, valued at $8,647,119.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP G Wilson Hughes sold 3,630 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $42.16, for a total value of $153,040.80. Following the completion of the sale, the executive vice president now owns 654,925 shares in the company, valued at $27,611,638. The disclosure for this sale can be found here. Insiders sold 56,130 shares of company stock worth $2,267,859 over the last 90 days. Company insiders own 15.28% of the company’s stock.

A number of hedge funds have recently modified their holdings of GNCMA. Simplex Trading LLC acquired a new stake in General Communication during the 3rd quarter worth about $179,000. Piedmont Investment Advisors LLC acquired a new stake in General Communication during the 2nd quarter worth about $212,000. Crossmark Global Holdings Inc. acquired a new stake in General Communication during the 3rd quarter worth about $250,000. BNP Paribas Arbitrage SA grew its position in General Communication by 13.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,078 shares of the utilities provider’s stock worth $296,000 after purchasing an additional 954 shares during the period. Finally, Douglas Lane & Associates LLC acquired a new stake in General Communication during the 3rd quarter worth about $346,000. Institutional investors own 64.11% of the company’s stock.

General Communication (NASDAQ:GNCMA) opened at $42.31 on Friday. The stock has a market capitalization of $1,530.00, a price-to-earnings ratio of -16.46 and a beta of 0.58. 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 52 week low of $17.50 and a 52 week high of $43.63.

General Communication (NASDAQ:GNCMA) last issued its earnings results on Wednesday, November 1st. The utilities provider reported ($0.25) earnings per share (EPS) for the quarter. General Communication had a negative return on equity of 618.31% and a negative net margin of 9.70%.

A number of research firms have recently commented on GNCMA. BidaskClub cut General Communication from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Drexel Hamilton raised General Communication from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd.

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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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