Sequoia Financial Advisors LLC Purchases New Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Sequoia Financial Advisors LLC purchased a new stake in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,136 shares of the company's stock, valued at approximately $861,000.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Liberty Broadband by 4,888.9% during the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company's stock worth $25,000 after buying an additional 440 shares during the period. GAMMA Investing LLC raised its stake in Liberty Broadband by 200.7% during the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company's stock worth $33,000 after buying an additional 283 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in Liberty Broadband during the 2nd quarter worth $36,000. Mather Group LLC. raised its stake in Liberty Broadband by 103.7% during the 2nd quarter. Mather Group LLC. now owns 762 shares of the company's stock worth $44,000 after buying an additional 388 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in Liberty Broadband by 88.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,700 shares of the company's stock worth $97,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 80.22% of the company's stock.

Liberty Broadband Stock Performance

LBRDK stock traded up $0.98 during mid-day trading on Friday, hitting $81.89. 501,498 shares of the company were exchanged, compared to its average volume of 1,153,170. The business has a 50 day simple moving average of $69.86 and a 200-day simple moving average of $59.82. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $11.70 billion, a PE ratio of 14.78 and a beta of 1.03. Liberty Broadband Co. has a 1-year low of $46.46 and a 1-year high of $87.54.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued 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 company had revenue of $246.00 million for the quarter, compared to analyst estimates of $244.25 million. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same quarter last year, the business earned $1.71 earnings per share. On average, equities analysts forecast that Liberty Broadband Co. will post 8.45 earnings per share for the current year.

Insider Activity

In other news, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband 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 completion of the sale, the insider now directly owns 3,670 shares in the company, valued at approximately $280,975.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Liberty Broadband news, CAO Brian J. Wendling sold 2,208 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the sale, the chief accounting officer now owns 11,054 shares of the company's stock, valued at approximately $838,335.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sale, the insider now directly owns 3,670 shares in the company, valued at approximately $280,975.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on LBRDK. Morgan Stanley lifted their price target on Liberty Broadband from $62.00 to $69.00 and gave the company an "equal weight" rating in a research note on Friday, July 19th. Rosenblatt Securities lifted their price target on Liberty Broadband from $80.00 to $91.00 and gave the company a "buy" rating in a research note 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.