Geode Capital Management LLC Has $17.11 Million Stake in Liberty Broadband Co. (NASDAQ:LBRDA)

Geode Capital Management LLC decreased its position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 222,553 shares of the company’s stock after selling 8,346 shares during the quarter. Geode Capital Management LLC owned approximately 0.16% of Liberty Broadband worth $17,111,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. American National Bank & Trust acquired a new position in Liberty Broadband during the third quarter valued at approximately $32,000. GAMMA Investing LLC lifted its position in Liberty Broadband by 161.8% during the 3rd quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock worth $48,000 after buying an additional 390 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Liberty Broadband during the 3rd quarter worth approximately $54,000. Glenmede Trust Co. NA boosted its holdings in shares of Liberty Broadband by 116.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock valued at $76,000 after buying an additional 533 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Liberty Broadband during the 3rd quarter worth about $79,000. 10.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Liberty Broadband

In other news, CEO Gregory B. Maffei sold 71,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $82.00, for a total transaction of $5,863,000.00. Following the completion of the sale, the chief executive officer now owns 2,827,013 shares of the company’s stock, valued at $231,815,066. This trade represents a 2.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 196,542 shares of company stock worth $15,834,108 over the last quarter. Company insiders own 14.19% of the company’s stock.

Liberty Broadband Trading Down 1.4 %

NASDAQ LBRDA opened at $75.61 on Monday. Liberty Broadband Co. has a twelve month low of $47.17 and a twelve month high of $100.44. The business’s fifty day moving average is $84.12 and its 200 day moving average is $70.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 13.92 and a beta of 1.05.

Liberty Broadband (NASDAQ:LBRDA) last announced its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.66). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The company had revenue of $262.00 million for the quarter, compared to the consensus estimate of $242.40 million. During the same period in the prior year, the business earned $1.10 earnings per share.

About Liberty Broadband

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.