Verition Fund Management LLC Invests $6.40 Million in Liberty Broadband Co. (NASDAQ:LBRDA)

Verition Fund Management LLC purchased a new stake in Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 83,344 shares of the company's stock, valued at approximately $6,402,000. Verition Fund Management LLC owned 0.06% of Liberty Broadband as of its most recent SEC filing.

Several other large investors have also modified their holdings of LBRDA. Price T Rowe Associates Inc. MD raised its holdings in Liberty Broadband by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,838 shares of the company's stock worth $505,000 after purchasing an additional 540 shares in the last quarter. Comerica Bank lifted its holdings in shares of Liberty Broadband by 16.0% in the 1st quarter. Comerica Bank now owns 7,283 shares of the company's stock valued at $416,000 after buying an additional 1,003 shares during the period. CWM LLC boosted its stake in shares of Liberty Broadband by 112.6% in the second quarter. CWM LLC now owns 1,352 shares of the company's stock valued at $74,000 after buying an additional 716 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Liberty Broadband by 16.4% during the second quarter. Bank of New York Mellon Corp now owns 55,883 shares of the company's stock worth $3,051,000 after acquiring an additional 7,890 shares during the period. Finally, Whittier Trust Co. acquired a new position in Liberty Broadband during the second quarter worth $129,000. Hedge funds and other institutional investors own 10.29% of the company's stock.

Liberty Broadband Trading Down 0.6 %

NASDAQ:LBRDA traded down $0.47 during mid-day trading on Monday, reaching $84.20. The company's stock had a trading volume of 111,555 shares, compared to its average volume of 151,076. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $12.03 billion, a P/E ratio of 15.51 and a beta of 1.04. The company's fifty day simple moving average is $83.44 and its two-hundred day simple moving average is $66.33. Liberty Broadband Co. has a twelve month low of $47.17 and a twelve month high of $100.44.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.66). The company had revenue of $262.00 million during the quarter, compared to analyst estimates of $242.40 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter last year, the business earned $1.10 EPS.

Insiders Place Their Bets

In other news, CAO Brian J. Wendling sold 2,208 shares of Liberty Broadband 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 sale, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. This trade represents a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total transaction of $338,624.88. Following the completion of the transaction, 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 a total of 6,673 shares of company stock worth $509,688 over the last ninety days. 14.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $95.00 price target (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th. Rosenblatt Securities cut Liberty Broadband from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $91.00 to $92.00 in a report on Thursday, November 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. 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.