Polar Asset Management Partners Inc. Invests $3.09 Million in Liberty Broadband Co. (NASDAQ:LBRDK)

Polar Asset Management Partners Inc. acquired a new stake in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 40,000 shares of the company's stock, valued at approximately $3,092,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hi Line Capital Management LLC lifted its holdings in shares of Liberty Broadband by 498.4% in the third quarter. Hi Line Capital Management LLC now owns 141,056 shares of the company's stock worth $10,902,000 after buying an additional 117,483 shares in the last quarter. Bank of Montreal Can boosted its holdings in Liberty Broadband by 172.6% in the 2nd quarter. Bank of Montreal Can now owns 258,212 shares of the company's stock valued at $14,173,000 after purchasing an additional 163,502 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Liberty Broadband during the 3rd quarter valued at $861,000. Commonwealth Equity Services LLC purchased a new position in shares of Liberty Broadband during the 2nd quarter valued at $602,000. Finally, Logan Stone Capital LLC increased its holdings in shares of Liberty Broadband by 1,134.1% in the second quarter. Logan Stone Capital LLC now owns 126,443 shares of the company's stock worth $6,932,000 after purchasing an additional 116,197 shares during the period. Institutional investors own 80.22% of the company's stock.

Insider Activity

In related news, CAO Brian J. Wendling sold 2,208 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. This represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,670 shares of the company's stock, valued at approximately $280,975.20. This trade represents a 54.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,673 shares of company stock worth $509,688 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Liberty Broadband Stock Up 0.1 %

Liberty Broadband stock traded up $0.11 on Thursday, hitting $86.48. 565,949 shares of the stock traded hands, compared to its average volume of 1,195,198. The business's fifty day simple moving average is $84.64 and its 200 day simple moving average is $67.39. The firm has a market cap of $12.35 billion, a P/E ratio of 15.92 and a beta of 1.02. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $101.50.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued its quarterly 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). The company had revenue of $262.00 million during the quarter, compared to the consensus estimate of $237.41 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, sell-side analysts forecast that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

Analysts Set New Price Targets

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

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.