Liberty Broadband Co. (NASDAQ:LBRDK) Shares Sold by State Street Corp

State Street Corp cut its position in Liberty Broadband Co. (NASDAQ:LBRDK) by 2.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,011,649 shares of the company’s stock after selling 45,952 shares during the period. State Street Corp’s holdings in Liberty Broadband were worth $155,480,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Hi Line Capital Management LLC grew its stake in Liberty Broadband by 498.4% during the 3rd quarter. Hi Line Capital Management LLC now owns 141,056 shares of the company’s stock worth $10,902,000 after purchasing an additional 117,483 shares in the last quarter. Bank of Montreal Can grew its stake in Liberty Broadband by 172.6% during the 2nd quarter. Bank of Montreal Can now owns 258,212 shares of the company’s stock worth $14,173,000 after purchasing an additional 163,502 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Liberty Broadband during the 3rd quarter worth $861,000. Commonwealth Equity Services LLC acquired a new position in Liberty Broadband during the 2nd quarter worth $602,000. Finally, Logan Stone Capital LLC grew its stake in Liberty Broadband by 1,134.1% during the 2nd quarter. Logan Stone Capital LLC now owns 126,443 shares of the company’s stock worth $6,932,000 after purchasing an additional 116,197 shares in the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was 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 approximately $838,335.36. The trade was a 16.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value 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 $280,975.20. The trade was a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,673 shares of company stock valued at $509,688. Insiders own 10.80% of the company’s stock.

Liberty Broadband Trading Down 1.1 %

NASDAQ:LBRDK opened at $82.38 on Friday. The stock has a 50-day simple moving average of $85.11 and a 200-day simple moving average of $68.65. The stock has a market cap of $11.77 billion, a P/E ratio of 15.17 and a beta of 1.02. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $101.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDK) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($1.69). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The business had revenue of $262.00 million for the quarter, compared to analyst estimates of $237.41 million. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, analysts anticipate that Liberty Broadband Co. will post 6.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Liberty Broadband in a research report on Saturday, December 7th. They set a “sell” rating for the company.

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.