State Street Corp Lowers Stake in Liberty Broadband Co. (NASDAQ:LBRDA)

State Street Corp decreased its position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) by 3.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 283,222 shares of the company’s stock after selling 9,985 shares during the period. State Street Corp owned 0.20% of Liberty Broadband worth $21,757,000 as of its most recent SEC filing.

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

Insider Activity

In other Liberty Broadband news, 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 transaction of $5,863,000.00. Following the sale, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at approximately $231,815,066. This represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total transaction of $338,624.88. Following the completion of the transaction, the insider now directly owns 3,670 shares of the company’s stock, valued at $280,975.20. This trade represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,173 shares of company stock worth $16,340,188. 14.19% of the stock is currently owned by corporate insiders.

Liberty Broadband Stock Performance

Liberty Broadband stock opened at $76.70 on Monday. Liberty Broadband Co. has a 12-month low of $47.17 and a 12-month high of $100.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 14.13 and a beta of 1.05. The firm’s fifty day moving average price is $84.48 and its 200 day moving average price is $69.02.

Liberty Broadband (NASDAQ:LBRDA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share 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 for the quarter, compared to analyst estimates of $242.40 million. During the same quarter last year, the business earned $1.10 EPS.

Analyst Ratings Changes

Several equities research analysts have commented on LBRDA shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 price target (up from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th. Rosenblatt Securities downgraded shares of Liberty Broadband from a “buy” rating to a “neutral” rating and increased their target price for the stock from $91.00 to $92.00 in a research report on Thursday, November 14th.

Liberty Broadband Company 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.