Holocene Advisors LP Acquires 185,798 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Holocene Advisors LP raised its position in shares of Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 166.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 297,528 shares of the company's stock after buying an additional 185,798 shares during the quarter. Holocene Advisors LP owned 0.21% of Liberty Broadband worth $22,996,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Whitebox Advisors LLC lifted its stake in Liberty Broadband by 29.5% during the second quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company's stock valued at $163,260,000 after buying an additional 677,785 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Liberty Broadband by 107.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,899,318 shares of the company's stock valued at $224,088,000 after purchasing an additional 1,502,249 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Liberty Broadband by 19.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company's stock valued at $113,045,000 after purchasing an additional 330,159 shares during the period. Highbridge Capital Management LLC increased its holdings in shares of Liberty Broadband by 22.6% in the 2nd quarter. Highbridge Capital Management LLC now owns 1,127,951 shares of the company's stock valued at $61,834,000 after purchasing an additional 208,153 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Liberty Broadband by 67.4% in the 2nd quarter. Millennium Management LLC now owns 1,032,186 shares of the company's stock valued at $56,584,000 after purchasing an additional 415,619 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Broadband Stock Performance

LBRDK stock traded up $1.51 during midday trading on Tuesday, hitting $86.12. The stock had a trading volume of 428,787 shares, compared to its average volume of 1,195,617. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 15.58 and a beta of 1.02. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $101.50. The stock has a 50-day simple moving average of $83.99 and a 200 day simple moving average of $66.89. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued 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 $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 period in the previous year, the business posted $1.10 earnings per share. As a group, equities research analysts anticipate that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

Insider Activity

In related news, CAO Brian J. Wendling sold 2,208 shares of Liberty Broadband stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.84, for a total value of $167,454.72. Following the completion of the sale, the chief accounting officer now directly owns 11,054 shares in the company, valued at $838,335.36. This trade represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total value of $338,624.88. Following the completion of the sale, the insider now owns 3,670 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 6,673 shares of company stock worth $509,688. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.