Renaissance Technologies LLC Cuts Holdings in Liberty Broadband Co. (NASDAQ:LBRDK)

Renaissance Technologies LLC trimmed its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 62.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,903 shares of the company's stock after selling 26,678 shares during the quarter. Renaissance Technologies LLC's holdings in Liberty Broadband were worth $872,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LBRDK. Versant Capital Management Inc grew its stake in Liberty Broadband by 4,888.9% in the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company's stock worth $25,000 after acquiring an additional 440 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Liberty Broadband during the second quarter valued at approximately $36,000. Mather Group LLC. boosted its stake in shares of Liberty Broadband by 103.7% during the second quarter. Mather Group LLC. now owns 762 shares of the company's stock valued at $44,000 after purchasing an additional 388 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Liberty Broadband by 88.9% during the first quarter. UniSuper Management Pty Ltd now owns 1,700 shares of the company's stock valued at $97,000 after purchasing an additional 800 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Liberty Broadband by 163.7% during the second quarter. CWM LLC now owns 2,255 shares of the company's stock valued at $124,000 after purchasing an additional 1,400 shares in the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LBRDK shares. Rosenblatt Securities increased their target price 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. Morgan Stanley lifted their price objective on shares of Liberty Broadband from $62.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Friday, July 19th.

Liberty Broadband Price Performance

NASDAQ LBRDK traded up $0.79 during trading hours on Tuesday, hitting $78.34. 1,160,242 shares of the company's stock traded hands, compared to its average volume of 1,178,788. Liberty Broadband Co. has a 52-week low of $46.46 and a 52-week high of $95.53. The company has a market capitalization of $11.19 billion, a PE ratio of 13.28 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.68 and a quick ratio of 1.68. The firm's 50-day moving average is $65.54 and its 200-day moving average is $57.41.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($1.15). The business had revenue of $246.00 million for the quarter, compared to analysts' expectations of $244.25 million. Liberty Broadband had a net margin of 81.86% and a return on equity of 8.79%. During the same period in the prior year, the company posted $1.71 EPS. Equities analysts forecast that Liberty Broadband Co. will post 9.05 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Broadband

In other news, insider Renee L. Wilm sold 4,423 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total value of $338,624.88. Following the transaction, the insider now directly owns 3,670 shares in the company, valued at approximately $280,975.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Brian J. Wendling sold 2,208 shares of the company's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the transaction, the chief accounting officer now directly owns 11,054 shares of the company's stock, valued at approximately $838,335.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Renee L. Wilm sold 4,423 shares of the company's 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 transaction, the insider now directly owns 3,670 shares of the company's stock, valued at approximately $280,975.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by company insiders.

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.