Scheer Rowlett & Associates Investment Management Ltd. Invests $253,000 in Liberty Broadband Co. (NASDAQ:LBRDA)

Scheer Rowlett & Associates Investment Management Ltd. bought a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,290 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds have also added to or reduced their stakes in the company. Long Focus Capital Management LLC lifted its stake in Liberty Broadband by 61.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 370,100 shares of the company’s stock valued at $20,207,000 after acquiring an additional 141,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Liberty Broadband by 38.3% during the second quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company’s stock worth $20,544,000 after purchasing an additional 104,268 shares during the period. Private Management Group Inc. raised its position in shares of Liberty Broadband by 29.8% in the second quarter. Private Management Group Inc. now owns 388,923 shares of the company’s stock valued at $21,235,000 after purchasing an additional 89,317 shares during the period. Cowen AND Company LLC bought a new position in shares of Liberty Broadband in the second quarter valued at about $4,445,000. Finally, Rhumbline Advisers raised its position in shares of Liberty Broadband by 65.4% in the second quarter. Rhumbline Advisers now owns 33,569 shares of the company’s stock valued at $1,833,000 after purchasing an additional 13,278 shares during the period. Institutional investors own 10.29% of the company’s stock.

Insider Activity at Liberty Broadband

In related news, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,670 shares in the company, valued at $280,975.20. This represents a 54.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian J. Wendling sold 2,208 shares of the company’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 transaction, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. This represents a 16.65 % decrease in their position. The disclosure for this sale can be found here. 14.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LBRDA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $95.00 price target (up from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th. Rosenblatt Securities lowered shares of Liberty Broadband from a “buy” rating to a “neutral” rating and raised their price target for the stock from $91.00 to $92.00 in a report on Thursday, November 14th.

Liberty Broadband Stock Up 0.6 %

NASDAQ LBRDA traded up $0.48 during mid-day trading on Wednesday, hitting $86.53. The company’s stock had a trading volume of 6,349 shares, compared to its average volume of 148,720. 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 market capitalization of $12.36 billion, a price-to-earnings ratio of 15.85 and a beta of 1.04. The company’s 50 day simple moving average is $78.93 and its 200 day simple moving average is $64.31. Liberty Broadband Co. has a twelve month low of $47.17 and a twelve month high of $100.44.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings data 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 period in the prior year, the firm earned $1.10 earnings per share.

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.