General Communication, Inc. (NASDAQ:GNCMA)’s Board Director, Jerry A. Edgerton declared today at the U.S. Securities and Exchange Commission the sale of 6,500 shares of the company’s Class A Common Stock. The transaction had taken place on May 28, 2014, for a price of $11.34 per share. Following this disposal, the Director owns 46,750 shares of the $470 million market cap wireless telephone services, data services, Internet access, video services and local and long-distance voice services provider.
On top of Mr. Edgerton, another five insiders at General Communication, Inc. (NASDAQ:GNCMA) have sold their stock this year. Since the beginning of 2014, insiders have sold more than $1.2 million in the company’s stock.
Similar is the case of famed hedge fund manager D.E. Shaw, who last declared having cut his exposure to General Communication, Inc. (NASDAQ:GNCMA) by 19%. His fund now owns 186,865 shares, worth roughly $2 million.
Disclosure: Javier Hasse holds no position in any stocks mentioned