Virtu Financial LLC Boosts Stock Position in Liberty Broadband Co. (NASDAQ:LBRDA)

Virtu Financial LLC increased its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) by 53.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,781 shares of the company's stock after acquiring an additional 12,519 shares during the quarter. Virtu Financial LLC's holdings in Liberty Broadband were worth $2,749,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Long Focus Capital Management LLC increased its stake in Liberty Broadband by 61.9% during the second quarter. Long Focus Capital Management LLC now owns 370,100 shares of the company's stock worth $20,207,000 after acquiring an additional 141,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Liberty Broadband by 38.3% in the second quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company's stock valued at $20,544,000 after buying an additional 104,268 shares during the last quarter. Private Management Group Inc. boosted its stake in Liberty Broadband by 29.8% during the second quarter. Private Management Group Inc. now owns 388,923 shares of the company's stock worth $21,235,000 after buying an additional 89,317 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Liberty Broadband in the 3rd quarter valued at approximately $6,402,000. Finally, Cowen AND Company LLC acquired a new position in shares of Liberty Broadband in the 2nd quarter worth approximately $4,445,000. Institutional investors and hedge funds own 10.29% of the company's stock.

Liberty Broadband Stock Up 2.7 %

Shares of NASDAQ LBRDA traded up $2.18 during mid-day trading on Thursday, reaching $82.50. The company had a trading volume of 78,052 shares, compared to its average volume of 163,294. Liberty Broadband Co. has a 52-week low of $47.17 and a 52-week high of $100.44. The stock has a market cap of $11.79 billion, a P/E ratio of 15.08 and a beta of 1.05. 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 firm has a 50 day simple moving average of $84.28 and a two-hundred day simple moving average of $67.72.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LBRDA shares. Rosenblatt Securities lowered shares of Liberty Broadband from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $91.00 to $92.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $95.00 target price (up from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th.

Insider Buying and Selling at Liberty Broadband

In other news, insider Renee L. Wilm sold 4,423 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $280,975.20. This trade represents a 54.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian J. Wendling sold 2,208 shares of the stock in a transaction dated 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 $838,335.36. This represents a 16.65 % 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 valued at $509,688 in the last ninety days. Insiders own 14.19% of the company's stock.

Liberty Broadband Company 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. 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.