Private Management Group Inc. Sells 87,095 Shares of Liberty Broadband Co. (NASDAQ:LBRDA)

Private Management Group Inc. reduced its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) by 29.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,634 shares of the company's stock after selling 87,095 shares during the quarter. Private Management Group Inc. owned approximately 0.15% of Liberty Broadband worth $15,811,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new position in shares of Liberty Broadband during the third quarter valued at about $30,000. GAMMA Investing LLC grew its holdings in shares of Liberty Broadband by 161.8% during the 3rd quarter. GAMMA Investing LLC now owns 631 shares of the company's stock worth $48,000 after acquiring an additional 390 shares during the period. Paloma Partners Management Co bought a new position in shares of Liberty Broadband in the 3rd quarter worth approximately $54,000. Glenmede Trust Co. NA raised its position in shares of Liberty Broadband by 116.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 990 shares of the company's stock worth $76,000 after acquiring an additional 533 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Liberty Broadband in the 3rd quarter valued at approximately $79,000. 10.29% of the stock is currently owned by institutional investors.

Liberty Broadband Stock Down 1.6 %

Shares of Liberty Broadband stock traded down $1.24 during midday trading on Friday, hitting $76.91. The company had a trading volume of 133,930 shares, compared to its average volume of 119,500. 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 stock has a market capitalization of $10.99 billion, a P/E ratio of 14.16 and a beta of 1.07. The company has a 50 day moving average of $77.69 and a 200 day moving average of $74.63.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.66). The company had revenue of $262.00 million during the quarter, compared to analysts' expectations of $242.40 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. During the same period in the prior year, the company posted $1.10 earnings per share.

Insider Activity at Liberty Broadband

In other Liberty Broadband news, CEO Gregory B. Maffei sold 71,500 shares of Liberty Broadband stock in a transaction on Monday, December 16th. The stock was sold at an average price of $82.00, for a total value of $5,863,000.00. Following the completion of the sale, the chief executive officer now owns 2,827,013 shares of the company's stock, valued at approximately $231,815,066. This trade represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 196,542 shares of company stock valued at $15,834,108. 14.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LBRDA shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $95.00 price objective (up previously from $90.00) on shares of Liberty Broadband in a report on Friday, November 15th. Rosenblatt Securities lowered shares of Liberty Broadband from a "buy" rating to a "neutral" rating and increased their price target for the stock from $91.00 to $92.00 in a research note on Thursday, November 14th.

Liberty Broadband Company Profile

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.