Gamco Investors INC. ET AL increased its position in shares of General Communication, Inc. (NASDAQ:GNCMA) by 12.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,615 shares of the utilities provider’s stock after buying an additional 6,800 shares during the period. Gamco Investors INC. ET AL owned about 0.17% of General Communication worth $2,432,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Vestor Capital LLC purchased a new position in General Communication in the second quarter valued at approximately $134,000. Simplex Trading LLC purchased a new position in General Communication in the third quarter valued at approximately $179,000. Piedmont Investment Advisors LLC purchased a new position in General Communication in the second quarter valued at approximately $212,000. Municipal Employees Retirement System of Michigan increased its stake in 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 purchasing an additional 190 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in General Communication in the third quarter valued at approximately $250,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.
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Separately, Drexel Hamilton upgraded shares of General Communication from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd.
General Communication, Inc. (NASDAQ GNCMA) opened at $40.49 on Tuesday. General Communication, Inc. has a one year low of $16.43 and a one year high of $43.63. The company has a debt-to-equity ratio of -511.65, a current ratio of 1.24 and a quick ratio of 1.19.
In other news, EVP G Wilson Hughes sold 3,630 shares of the stock in a transaction that occurred on 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 directly owns 654,925 shares of the company’s stock, valued at $27,611,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William C. Behnke sold 16,250 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $42.80, for a total value of $695,500.00. Following the completion of the sale, the senior vice president now directly owns 165,662 shares of the company’s stock, valued at $7,090,333.60. The disclosure for this sale can be found here. Corporate insiders own 15.28% 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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