Maverick Capital Ltd. Invests $1.80 Million in Liberty Broadband Co. (NASDAQ:LBRDK)

Maverick Capital Ltd. purchased a new position in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,287 shares of the company's stock, valued at approximately $1,800,000.

Several other institutional investors and hedge funds have also made changes to their positions in LBRDK. Edgestream Partners L.P. purchased a new position in shares of Liberty Broadband in the third quarter worth about $459,000. Captrust Financial Advisors increased its holdings in Liberty Broadband by 15.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,417 shares of the company's stock worth $341,000 after buying an additional 586 shares during the period. Capstone Investment Advisors LLC purchased a new position in Liberty Broadband during the 3rd quarter worth approximately $224,000. Walleye Capital LLC acquired a new stake in Liberty Broadband during the 3rd quarter valued at approximately $2,253,000. Finally, Baupost Group LLC MA acquired a new stake in Liberty Broadband during the 3rd quarter valued at approximately $13,186,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Liberty Broadband

In related news, CAO Brian J. Wendling sold 2,208 shares of Liberty Broadband stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the completion of the transaction, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. The trade was a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total transaction of $338,624.88. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,673 shares of company stock worth $509,688. Corporate insiders own 10.80% of the company's stock.

Liberty Broadband Price Performance

Shares of NASDAQ:LBRDK traded up $0.76 during midday trading on Friday, hitting $85.14. The company had a trading volume of 614,006 shares, compared to its average volume of 1,680,828. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $101.50. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 15.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The business's 50-day simple moving average is $83.52 and its 200-day simple moving average is $66.68.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced 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). 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 during the quarter, compared to analysts' expectations of $237.41 million. During the same period in the prior year, the company posted $1.10 EPS. On average, research analysts predict that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on LBRDK shares. StockNews.com began coverage on shares of Liberty Broadband in a research note on Friday. They set a "sell" rating on the stock. Rosenblatt Securities raised their price target on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a "buy" rating in a research 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.