Jane Street Group LLC reduced its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDA – Free Report) by 61.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,969 shares of the company’s stock after selling 9,369 shares during the period. Jane Street Group LLC’s holdings in Liberty Broadband were worth $459,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. Stifel Financial Corp bought a new position in Liberty Broadband during the 3rd quarter worth $1,235,000. Quantinno Capital Management LP acquired a new stake in Liberty Broadband during the 3rd quarter worth about $260,000. Ionic Capital Management LLC acquired a new stake in Liberty Broadband during the 3rd quarter worth about $1,322,000. Centiva Capital LP acquired a new stake in Liberty Broadband during the 3rd quarter worth about $2,261,000. Finally, Paloma Partners Management Co acquired a new stake in Liberty Broadband during the 3rd quarter worth about $54,000. 10.29% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $95.00 target price (up from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th. Rosenblatt Securities downgraded Liberty Broadband from a “buy” rating to a “neutral” rating and raised their target price for the company from $91.00 to $92.00 in a research note on Thursday, November 14th.
Insider Buying and Selling
In other Liberty Broadband 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 196,542 shares of company stock valued at $15,834,108 over the last quarter. 14.19% of the stock is owned by company insiders.
Liberty Broadband Stock Performance
NASDAQ LBRDA opened at $75.63 on Tuesday. Liberty Broadband Co. has a 52-week low of $47.17 and a 52-week high of $100.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $10.80 billion, a P/E ratio of 13.93 and a beta of 1.06. The company has a fifty day moving average of $83.53 and a 200-day moving average of $71.04.
Liberty Broadband (NASDAQ:LBRDA – Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm posted $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.
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