Ruane Cunniff & Goldfarb L.P. Sells 13,415 Shares of Liberty Broadband Co. (NASDAQ:LBRDA)

Ruane Cunniff & Goldfarb L.P. reduced its stake in Liberty Broadband Co. (NASDAQ:LBRDA) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 709,767 shares of the company’s stock after selling 13,415 shares during the quarter. Liberty Broadband comprises approximately 0.9% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 19th biggest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Liberty Broadband were worth $54,524,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC increased its holdings in Liberty Broadband by 1.0% in the 3rd quarter. FMR LLC now owns 2,761,528 shares of the company’s stock valued at $212,141,000 after acquiring an additional 26,241 shares during the last quarter. Seizert Capital Partners LLC grew its stake in shares of Liberty Broadband by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 394,418 shares of the company’s stock worth $30,299,000 after buying an additional 12,515 shares in the last quarter. Private Management Group Inc. grew its stake in shares of Liberty Broadband by 29.8% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Liberty Broadband by 38.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company’s stock worth $20,544,000 after buying an additional 104,268 shares in the last quarter. Finally, Long Focus Capital Management LLC grew its stake in shares of Liberty Broadband by 61.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 370,100 shares of the company’s stock worth $20,207,000 after buying an additional 141,500 shares in the last quarter. 10.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Liberty Broadband news, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the completion of the sale, the chief accounting officer now directly owns 11,054 shares of the company’s stock, valued at $838,335.36. The trade was a 16.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the business’s stock in a transaction dated 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 sale, the insider now directly 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 ninety days, insiders sold 6,673 shares of company stock valued at $509,688. Company insiders own 14.19% of the company’s stock.

Liberty Broadband Price Performance

LBRDA stock opened at $83.92 on Thursday. Liberty Broadband Co. has a 12 month low of $47.17 and a 12 month high of $100.44. 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 company has a 50-day moving average price of $81.96 and a 200 day moving average price of $65.60. The stock has a market cap of $11.99 billion, a PE ratio of 15.45 and a beta of 1.04.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). 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 for the quarter, compared to analysts’ expectations of $242.40 million. During the same period in the prior year, the firm posted $1.10 earnings per share.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities cut shares of 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 research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $95.00 price objective (up from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th.

Liberty Broadband 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.