JPMorgan Chase & Co. Sells 1,097,375 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

JPMorgan Chase & Co. cut its holdings in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 76.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,157 shares of the company's stock after selling 1,097,375 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.24% of Liberty Broadband worth $26,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LBRDK. Assenagon Asset Management S.A. lifted its stake in Liberty Broadband by 107.5% during 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 acquiring an additional 1,502,249 shares during the period. Whitebox Advisors LLC boosted its holdings in Liberty Broadband by 29.5% in the second quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company's stock worth $163,260,000 after purchasing an additional 677,785 shares during the last quarter. Millennium Management LLC grew its position in Liberty Broadband by 67.4% in the 2nd quarter. Millennium Management LLC now owns 1,032,186 shares of the company's stock worth $56,584,000 after purchasing an additional 415,619 shares during the period. Barclays PLC raised its stake in Liberty Broadband by 6.4% during the 3rd quarter. Barclays PLC now owns 6,899,331 shares of the company's stock valued at $533,251,000 after buying an additional 415,496 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Liberty Broadband by 63.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 940,168 shares of the company's stock valued at $72,666,000 after buying an additional 366,614 shares during the period. Institutional investors own 80.22% of the company's stock.

Liberty Broadband Price Performance

Shares of NASDAQ:LBRDK traded up $0.77 during trading on Wednesday, hitting $76.30. 1,622,242 shares of the company's stock were exchanged, compared to its average volume of 788,848. The business's 50-day simple moving average is $84.07 and its 200 day simple moving average is $71.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. Liberty Broadband Co. has a 52-week low of $46.46 and a 52-week high of $101.50. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 14.05 and a beta of 1.04.

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

Insider Activity

In other Liberty Broadband news, CEO Gregory B. Maffei sold 71,500 shares of the company's 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 transaction, the chief executive officer now owns 2,827,013 shares of the company's stock, valued at $231,815,066. This represents a 2.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 196,542 shares of company stock valued at $15,834,108. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Liberty Broadband in a research report on Wednesday. They set a "sell" rating for the company.

Liberty Broadband 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.