Point72 Asset Management L.P. Acquires 104,272 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Point72 Asset Management L.P. grew its stake in Liberty Broadband Co. (NASDAQ:LBRDK) by 54.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,641 shares of the company’s stock after acquiring an additional 104,272 shares during the period. Point72 Asset Management L.P. owned 0.21% of Liberty Broadband worth $22,773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in Liberty Broadband by 200.7% during the third quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock worth $33,000 after acquiring an additional 283 shares during the last quarter. Capital Advisors Ltd. LLC lifted 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 purchasing an additional 191 shares during the last quarter. Mather Group LLC. boosted its stake in Liberty Broadband by 103.7% in the 2nd quarter. Mather Group LLC. now owns 762 shares of the company’s stock valued at $44,000 after purchasing an additional 388 shares during the period. Brooklyn Investment Group acquired a new position in Liberty Broadband in the 3rd quarter valued at $82,000. Finally, CWM LLC increased its position in Liberty Broadband by 163.7% during the 2nd quarter. CWM LLC now owns 2,255 shares of the company’s stock worth $124,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 80.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on LBRDK. StockNews.com assumed coverage on Liberty Broadband in a research note on Friday, November 29th. They issued a “sell” rating for the company. Rosenblatt Securities lifted their price objective on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 14th.

Insider Buying and Selling

In other Liberty Broadband news, insider Renee L. Wilm sold 4,423 shares of the firm’s 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 completion of the transaction, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Brian J. Wendling sold 2,208 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 11,054 shares in the company, valued at approximately $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 have sold a total of 6,673 shares of company stock worth $509,688 in the last 90 days. 10.80% of the stock is owned by company insiders.

Liberty Broadband Price Performance

LBRDK stock opened at $86.48 on Friday. The company has a market capitalization of $12.35 billion, a P/E ratio of 15.93 and a beta of 1.02. Liberty Broadband Co. has a 52-week low of $46.46 and a 52-week high of $101.50. The business has a 50-day simple moving average of $84.64 and a two-hundred day simple moving average of $67.39. 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 posted its earnings results 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). The company had revenue of $262.00 million for the quarter, compared to analysts’ expectations of $237.41 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. During the same quarter in the prior year, the company earned $1.10 EPS. Research analysts expect that Liberty Broadband Co. will post 6.72 EPS for the current fiscal 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.