Soros Fund Management LLC decreased its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 19.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,119,893 shares of the company's stock after selling 270,000 shares during the quarter. Liberty Broadband comprises about 1.3% of Soros Fund Management LLC's investment portfolio, making the stock its 19th biggest holding. Soros Fund Management LLC owned about 0.78% of Liberty Broadband worth $86,557,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of Liberty Broadband by 1.5% in the third quarter. Stifel Financial Corp now owns 94,461 shares of the company's stock worth $7,301,000 after purchasing an additional 1,409 shares during the last quarter. Sand Grove Capital Management LLP bought a new stake in shares of Liberty Broadband in the third quarter worth approximately $2,627,000. Quantinno Capital Management LP raised its holdings in shares of Liberty Broadband by 15.6% during the third quarter. Quantinno Capital Management LP now owns 32,653 shares of the company's stock valued at $2,524,000 after purchasing an additional 4,403 shares during the last quarter. Quarry LP bought a new position in Liberty Broadband during the third quarter valued at approximately $28,000. Finally, Readystate Asset Management LP boosted its holdings in Liberty Broadband by 53.7% in the third quarter. Readystate Asset Management LP now owns 170,705 shares of the company's stock worth $13,194,000 after purchasing an additional 59,628 shares during the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Liberty Broadband
In other news, CAO Brian J. Wendling sold 2,208 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total transaction of $167,454.72. Following 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 16.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the stock in a transaction dated 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 owns 3,670 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 6,673 shares of company stock valued at $509,688. 10.80% of the stock is currently owned by corporate insiders.
Liberty Broadband Trading Down 0.3 %
LBRDK stock traded down $0.23 during midday trading on Friday, reaching $86.25. 680,163 shares of the company traded hands, compared to its average volume of 1,192,797. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 15.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The business has a 50 day moving average of $84.64 and a 200-day moving average of $67.39. Liberty Broadband Co. has a 52-week low of $46.46 and a 52-week high of $101.50.
Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($1.69). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The firm had revenue of $262.00 million during the quarter, compared to the consensus estimate of $237.41 million. During the same period in the previous year, the business earned $1.10 EPS. As a group, sell-side analysts expect that Liberty Broadband Co. will post 6.72 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently issued reports on LBRDK. Rosenblatt Securities boosted 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. StockNews.com assumed coverage on shares of Liberty Broadband in a research report on Friday, November 29th. They set a "sell" rating for the company.
View Our Latest Research Report on Liberty Broadband
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.
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