Wealth Enhancement Advisory Services LLC Sells 7,885 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Wealth Enhancement Advisory Services LLC trimmed its stake in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 38.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,455 shares of the company's stock after selling 7,885 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Liberty Broadband were worth $963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LBRDK. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Liberty Broadband by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 276,900 shares of the company's stock valued at $15,847,000 after purchasing an additional 1,515 shares during the period. BNP Paribas Financial Markets grew its holdings in Liberty Broadband by 317.9% during the 1st quarter. BNP Paribas Financial Markets now owns 139,552 shares of the company's stock worth $7,987,000 after acquiring an additional 106,162 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in Liberty Broadband by 47.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,137 shares of the company's stock worth $237,000 after acquiring an additional 1,338 shares during the period. Nordea Investment Management AB grew its holdings in Liberty Broadband by 8.4% during the 1st quarter. Nordea Investment Management AB now owns 9,147 shares of the company's stock worth $518,000 after acquiring an additional 712 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Liberty Broadband by 4.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,845 shares of the company's stock worth $449,000 after acquiring an additional 300 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Brian J. Wendling sold 2,208 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Brian J. Wendling sold 2,208 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the sale, the chief accounting officer now owns 11,054 shares in the company, valued at approximately $838,335.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction 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 transaction, the insider now owns 3,670 shares in the company, valued at $280,975.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.80% of the company's stock.

Liberty Broadband Stock Performance

Liberty Broadband stock traded up $8.14 during mid-day trading on Wednesday, reaching $101.40. The company's stock had a trading volume of 2,203,500 shares, compared to its average volume of 1,162,710. Liberty Broadband Co. has a 12-month low of $46.46 and a 12-month high of $101.49. The company has a market capitalization of $14.48 billion, a P/E ratio of 16.83 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 1.68. The firm's fifty day moving average price is $73.14 and its two-hundred day moving average price is $61.76.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($1.15). The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $244.25 million. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same period in the prior year, the firm posted $1.71 earnings per share. Sell-side analysts predict that Liberty Broadband Co. will post 8.45 EPS for the current fiscal year.

Analysts Set New Price Targets

LBRDK has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on Liberty Broadband from $62.00 to $69.00 and gave the stock an "equal weight" rating in a report on Friday, July 19th. Rosenblatt Securities raised their target price on Liberty Broadband from $80.00 to $91.00 and gave the company a "buy" rating in a research note on Wednesday, August 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.