Liberty Broadband Co. (NASDAQ:LBRDK) Shares Bought by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 6.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,606 shares of the company's stock after purchasing an additional 17,394 shares during the quarter. Bank of Montreal Can owned about 0.19% of Liberty Broadband worth $21,536,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LBRDK. Hi Line Capital Management LLC increased its position in shares of Liberty Broadband by 498.4% during the third quarter. Hi Line Capital Management LLC now owns 141,056 shares of the company's stock worth $10,902,000 after purchasing an additional 117,483 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Liberty Broadband during the 3rd quarter worth approximately $861,000. Commonwealth Equity Services LLC acquired a new position in Liberty Broadband during the second quarter worth approximately $602,000. Logan Stone Capital LLC lifted its stake in Liberty Broadband by 1,134.1% in the second quarter. Logan Stone Capital LLC now owns 126,443 shares of the company's stock valued at $6,932,000 after buying an additional 116,197 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Liberty Broadband by 39.5% in the second quarter. Point72 Asset Management L.P. now owns 190,369 shares of the company's stock valued at $10,436,000 after acquiring an additional 53,869 shares during the period. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Broadband Stock Performance

Liberty Broadband stock traded up $0.76 during trading hours on Friday, reaching $85.14. 614,006 shares of the stock were exchanged, compared to its average volume of 1,197,689. Liberty Broadband Co. has a 52-week low of $46.46 and a 52-week high of $101.50. The stock has a market cap of $12.16 billion, a P/E ratio of 15.68 and a beta of 1.02. 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 firm's 50 day moving average is $83.52 and its 200 day moving average is $66.58.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LBRDK. StockNews.com initiated coverage on shares of Liberty Broadband in a report on Friday. They issued a "sell" rating on the stock. Rosenblatt Securities lifted their price objective on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th.

Insider Activity

In related news, CAO Brian J. Wendling sold 2,208 shares of the company's stock in a transaction that occurred 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 owns 11,054 shares in the company, valued at $838,335.36. This represents a 16.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total value 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. The trade was a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,673 shares of company stock valued at $509,688 in the last three months. 10.80% of the stock is currently owned by company insiders.

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.