Liberty Broadband Co. (NASDAQ:LBRDA) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in Liberty Broadband Co. (NASDAQ:LBRDA) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,772 shares of the company’s stock after selling 405 shares during the period. HighTower Advisors LLC’s holdings in Liberty Broadband were worth $597,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Long Focus Capital Management LLC lifted its position in Liberty Broadband by 61.9% in the second quarter. Long Focus Capital Management LLC now owns 370,100 shares of the company’s stock valued at $20,207,000 after purchasing an additional 141,500 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Liberty Broadband by 38.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company’s stock valued at $20,544,000 after buying an additional 104,268 shares during the period. Private Management Group Inc. boosted its stake in shares of Liberty Broadband by 29.8% in the second quarter. Private Management Group Inc. now owns 388,923 shares of the company’s stock valued at $21,235,000 after buying an additional 89,317 shares in the last quarter. Verition Fund Management LLC acquired a new position in Liberty Broadband during the third quarter worth $6,402,000. Finally, Cowen AND Company LLC acquired a new stake in Liberty Broadband in the second quarter valued at $4,445,000. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Liberty Broadband Stock Down 0.6 %

Liberty Broadband stock opened at $76.68 on Friday. Liberty Broadband Co. has a fifty-two week low of $47.17 and a fifty-two week high of $100.44. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 14.12 and a beta of 1.05. The stock’s fifty day moving average is $84.51 and its two-hundred day moving average is $68.75. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The business had revenue of $262.00 million during the quarter, compared to analyst estimates of $242.40 million. During the same period in the previous year, the company posted $1.10 earnings per share.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LBRDA. Rosenblatt Securities cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and upped their price target for the stock from $91.00 to $92.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 target price (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th.

Insider Buying and Selling at Liberty Broadband

In other news, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total value of $167,454.72. Following the sale, the chief accounting officer now directly owns 11,054 shares in the company, valued at $838,335.36. This represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory B. Maffei sold 71,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.00, for a total value of $5,863,000.00. Following the sale, the chief executive officer now directly owns 2,827,013 shares in the company, valued at approximately $231,815,066. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,173 shares of company stock valued at $16,340,188 over the last quarter. Corporate insiders own 14.19% of the company’s stock.

Liberty Broadband Profile

Liberty Broadband Corporation engages in the communications businesses. The company’s GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.