Proficio Capital Partners LLC purchased a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 59,042 shares of the company's stock, valued at approximately $4,390,000.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Franklin Resources Inc. acquired a new position in shares of Liberty Broadband in the 3rd quarter valued at about $30,000. Glenmede Trust Co. NA raised its holdings in Liberty Broadband by 116.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 990 shares of the company's stock worth $76,000 after purchasing an additional 533 shares during the period. Paloma Partners Management Co acquired a new position in Liberty Broadband in the 3rd quarter worth about $54,000. US Bancorp DE raised its holdings in Liberty Broadband by 19.4% in the 3rd quarter. US Bancorp DE now owns 4,314 shares of the company's stock worth $331,000 after purchasing an additional 700 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Liberty Broadband by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,578 shares of the company's stock worth $1,120,000 after purchasing an additional 1,352 shares during the period. Institutional investors and hedge funds own 10.29% of the company's stock.
Insider Activity
In related news, CEO Gregory B. Maffei sold 125,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total value of $9,967,500.00. Following the transaction, the chief executive officer now directly owns 1,435,256 shares in the company, valued at approximately $114,447,313.44. This represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.19% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on LBRDA. Rosenblatt Securities cut Liberty Broadband from a "buy" rating to a "neutral" rating and upped their price target for the stock from $91.00 to $92.00 in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $95.00 price target (up previously from $90.00) on shares of Liberty Broadband in a report on Friday, November 15th.
View Our Latest Analysis on Liberty Broadband
Liberty Broadband Price Performance
NASDAQ:LBRDA traded down $0.36 during trading hours on Friday, hitting $86.57. 90,101 shares of the stock were exchanged, compared to its average volume of 105,050. Liberty Broadband Co. has a 52-week low of $47.17 and a 52-week high of $100.44. The firm's fifty day moving average price is $78.19 and its 200 day moving average price is $77.13. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The company has a market cap of $12.37 billion, a P/E ratio of 15.94 and a beta of 1.07.
Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.31. The business had revenue of $263.00 million during the quarter, compared to analyst estimates of $252.50 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%.
Liberty Broadband Profile
(
Free Report)
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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.
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