Point72 Asset Management L.P. Buys 104,272 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Point72 Asset Management L.P. increased its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 54.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 294,641 shares of the company's stock after purchasing an additional 104,272 shares during the period. Point72 Asset Management L.P. owned 0.21% of Liberty Broadband worth $22,773,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Comerica Bank boosted its holdings in shares of Liberty Broadband by 33.4% during the first quarter. Comerica Bank now owns 26,011 shares of the company's stock worth $1,489,000 after acquiring an additional 6,511 shares during the period. Mather Group LLC. lifted its holdings in shares of Liberty Broadband by 103.7% in the second quarter. Mather Group LLC. now owns 762 shares of the company's stock worth $44,000 after acquiring an additional 388 shares during the last quarter. CWM LLC grew 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 worth $124,000 after buying an additional 1,400 shares during the last quarter. Sendero Wealth Management LLC increased its holdings in Liberty Broadband by 543.4% in the 2nd quarter. Sendero Wealth Management LLC now owns 61,432 shares of the company's stock worth $3,368,000 after purchasing an additional 51,884 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Liberty Broadband by 14.4% in the second quarter. SG Americas Securities LLC now owns 76,589 shares of the company's stock valued at $4,199,000 after buying an additional 9,619 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock traded up $0.03 during trading on Friday, hitting $86.50. 1,555,023 shares of the stock traded hands, compared to its average volume of 1,196,723. The firm's fifty day moving average is $84.64 and its 200-day moving average is $67.39. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 15.93 and a beta of 1.02. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $101.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. StockNews.com started coverage on shares of Liberty Broadband in a research report on Friday, November 29th. They set a "sell" rating for the company. Rosenblatt Securities upped their target price on Liberty Broadband from $80.00 to $91.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th.

Insider Activity at Liberty Broadband

In related news, CAO Brian J. Wendling sold 2,208 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total transaction of $338,624.88. Following the completion of the sale, the insider now owns 3,670 shares of the company's stock, valued at $280,975.20. This trade represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,673 shares of company stock worth $509,688 in the last three months. 10.80% of the stock is owned by 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.