Principal Financial Group Inc. Sells 609 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Principal Financial Group Inc. lowered its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 7.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,151 shares of the company’s stock after selling 609 shares during the quarter. Principal Financial Group Inc.’s holdings in Liberty Broadband were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Groupama Asset Managment purchased a new stake in shares of Liberty Broadband in the third quarter worth approximately $25,000. Quarry LP bought a new stake in Liberty Broadband during the third quarter worth $28,000. GAMMA Investing LLC raised its position in Liberty Broadband by 200.7% in the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock valued at $33,000 after buying an additional 283 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Liberty Broadband by 75.8% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 443 shares of the company’s stock worth $34,000 after acquiring an additional 191 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Liberty Broadband in the 3rd quarter worth $82,000. Institutional investors own 80.22% of the company’s stock.

Liberty Broadband Stock Up 2.1 %

Shares of NASDAQ:LBRDK opened at $77.60 on Monday. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $101.50. The company has a market capitalization of $11.09 billion, a PE ratio of 14.29 and a beta of 1.04. The business has a fifty day moving average price of $84.27 and a two-hundred day moving average price of $71.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($1.69). The company had revenue of $262.00 million for the quarter, compared to the consensus estimate of $237.41 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter in the previous year, the company posted $1.10 EPS. Analysts forecast that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Liberty Broadband in a research report on Tuesday, December 31st. They set a “sell” rating on the stock.

Insider Transactions at Liberty Broadband

In other news, CEO Gregory B. Maffei sold 125,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the completion of the transaction, the chief executive officer now owns 1,435,256 shares in the company, valued at approximately $114,447,313.44. This represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 196,542 shares of company stock worth $15,834,108 in the last quarter. Insiders own 10.80% of the company’s stock.

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.