Liberty Broadband Co. (NASDAQ:LBRDK) Shares Sold by Ruane Cunniff & Goldfarb L.P.

Ruane Cunniff & Goldfarb L.P. trimmed its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,514,729 shares of the company’s stock after selling 51,499 shares during the quarter. Liberty Broadband accounts for about 3.0% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 14th biggest holding. Ruane Cunniff & Goldfarb L.P. owned 1.76% of Liberty Broadband worth $194,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LBRDK. Versant Capital Management Inc raised its holdings in Liberty Broadband by 4,888.9% during the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company’s stock worth $25,000 after buying an additional 440 shares during the period. GAMMA Investing LLC raised its holdings in Liberty Broadband by 200.7% during the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock worth $33,000 after buying an additional 283 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Liberty Broadband by 75.8% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 443 shares of the company’s stock worth $34,000 after buying an additional 191 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in Liberty Broadband during the 2nd quarter worth about $36,000. Finally, Mather Group LLC. raised its holdings in Liberty Broadband by 103.7% during the 2nd quarter. Mather Group LLC. now owns 762 shares of the company’s stock worth $44,000 after buying an additional 388 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LBRDK has been the topic of a number of research reports. Rosenblatt Securities upped their target price on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com initiated coverage on Liberty Broadband in a report on Thursday, November 21st. They issued a “sell” rating on the stock.

Insiders Place Their Bets

In other news, insider Renee L. Wilm sold 4,423 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 approximately $280,975.20. This represents a 54.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian J. Wendling sold 2,208 shares of the 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 completion of the sale, 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 6,673 shares of company stock valued at $509,688 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Liberty Broadband Stock Down 1.1 %

Shares of Liberty Broadband stock opened at $84.38 on Thursday. The stock has a market capitalization of $12.05 billion, a P/E ratio of 15.54 and a beta of 1.02. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $82.56 and a two-hundred day moving average price of $66.14. Liberty Broadband Co. has a 12-month low of $46.46 and a 12-month high of $101.50.

Liberty Broadband (NASDAQ:LBRDK) last announced its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($1.69). The company had revenue of $262.00 million for the quarter, compared to the consensus estimate of $237.41 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. During the same period in the previous year, the company earned $1.10 EPS. Equities analysts expect that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

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.