General Communication Inc. (NASDAQ:GNCMA) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,059,361 shares, a growth of 28.9% from the August 15th total of 821,824 shares. Based on an average trading volume of 257,253 shares, the days-to-cover ratio is presently 4.1 days. Approximately 4.4% of the shares of the company are sold short.
In other news, insider Tina Pidgeon sold 2,095 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $12.63, for a total transaction of $26,459.85. Following the completion of the sale, the insider now owns 338,147 shares in the company, valued at $4,270,796.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John W. Stanton sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $16.06, for a total value of $16,060,000.00. The disclosure for this sale can be found here. 14.20% of the stock is owned by insiders.
Shares of General Communication (NASDAQ:GNCMA) opened at 13.29 on Friday. The stock’s 50 day moving average price is $13.31 and its 200 day moving average price is $15.72. General Communication has a 1-year low of $12.26 and a 1-year high of $22.44. The stock has a market cap of $493.30 million, a PE ratio of 73.83 and a beta of 1.13.
About General Communication
General Communication, Inc is a holding company. The Company, together with its subsidiaries, is a diversified 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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