General Communication, Inc. (NASDAQ:GNCMA) Sees Large Decline in Short Interest

General Communication, Inc. (NASDAQ:GNCMA) was the recipient of a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 358,158 shares, a drop 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. Approximately 1.5% of the shares of the stock are short sold.

In related news, Director Stephen R. Mooney sold 7,400 shares of General Communication stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $41.10, for a total value of $304,140.00. Following the sale, the director now directly owns 66,500 shares in the company, valued at approximately $2,733,150. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen R. Mooney sold 10,100 shares of General Communication stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $40.78, for a total value of $411,878.00. Following the completion of the sale, the director now owns 56,400 shares in the company, valued at $2,299,992. The disclosure for this sale can be found here. Insiders have sold a total of 56,130 shares of company stock worth $2,267,859 over the last 90 days. Insiders own 15.28% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Simplex Trading LLC purchased a new stake in General Communication in the third quarter valued at approximately $179,000. Piedmont Investment Advisors LLC purchased a new stake in General Communication in the second quarter valued at approximately $212,000. Crossmark Global Holdings Inc. purchased a new stake in General Communication in the third quarter valued at approximately $250,000. BNP Paribas Arbitrage SA raised its position in General Communication by 13.4% in the second quarter. BNP Paribas Arbitrage SA now owns 8,078 shares of the utilities provider’s stock valued at $296,000 after purchasing an additional 954 shares during the period. Finally, Douglas Lane & Associates LLC purchased a new stake in General Communication in the third quarter valued at approximately $346,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Communication (GNCMA) opened at $42.31 on Monday. The company has a market cap of $1,527.31, a P/E ratio of -16.34 and a beta of 0.58. 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 has a 12-month low of $17.50 and a 12-month high of $43.63.

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

Several analysts have recently commented on the stock. BidaskClub lowered shares of General Communication from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Drexel Hamilton raised shares of General Communication from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd.

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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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