Jane Street Group LLC reduced its position in shares of Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) by 61.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Liberty Broadband by 16.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,883 shares of the company's stock worth $3,051,000 after buying an additional 7,890 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Liberty Broadband by 166,900.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,670 shares of the company's stock valued at $91,000 after purchasing an additional 1,669 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Liberty Broadband by 65.4% during the 2nd quarter. Rhumbline Advisers now owns 33,569 shares of the company's stock valued at $1,833,000 after purchasing an additional 13,278 shares during the last quarter. Arizona State Retirement System bought a new position in shares of Liberty Broadband during the 2nd quarter valued at $251,000. Finally, Private Management Group Inc. raised its position in Liberty Broadband by 29.8% in the 2nd quarter. Private Management Group Inc. now owns 388,923 shares of the company's stock worth $21,235,000 after purchasing an additional 89,317 shares during the period. Institutional investors own 10.29% of the company's stock.
Wall Street Analyst Weigh In
LBRDA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $95.00 target price (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th. Rosenblatt Securities cut Liberty Broadband from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $91.00 to $92.00 in a research report on Thursday, November 14th.
Get Our Latest Stock Analysis on LBRDA
Insiders Place Their Bets
In related news, CEO Gregory B. Maffei sold 125,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 directly owns 1,435,256 shares of the company's stock, valued at $114,447,313.44. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 196,542 shares of company stock worth $15,834,108. 14.19% of the stock is owned by corporate insiders.
Liberty Broadband Trading Down 0.7 %
Shares of NASDAQ LBRDA traded down $0.52 during mid-day trading on Tuesday, reaching $75.11. The company had a trading volume of 53,581 shares, compared to its average volume of 101,170. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 13.83 and a beta of 1.06. The business's 50-day moving average is $83.53 and its 200-day moving average is $71.04. Liberty Broadband Co. has a 52 week low of $47.17 and a 52 week high of $100.44. 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:LBRDA - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $242.40 million. During the same quarter in the prior year, the firm posted $1.10 EPS.
About Liberty Broadband
(
Free Report)
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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