Ionic Capital Management LLC Purchases New Position in Liberty Broadband Co. (NASDAQ:LBRDA)

Ionic Capital Management LLC acquired a new stake in Liberty Broadband Co. (NASDAQ:LBRDA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 17,209 shares of the company’s stock, valued at approximately $1,322,000.

Other institutional investors have also recently made changes to their positions in the company. Baupost Group LLC MA acquired a new stake in shares of Liberty Broadband in the third quarter valued at $581,000. Verition Fund Management LLC purchased a new stake in Liberty Broadband during the third quarter worth approximately $6,402,000. Creative Planning increased its holdings in Liberty Broadband by 48.5% during the 3rd quarter. Creative Planning now owns 15,884 shares of the company’s stock worth $1,220,000 after purchasing an additional 5,186 shares during the last quarter. Seizert Capital Partners LLC raised its position in shares of Liberty Broadband by 3.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 394,418 shares of the company’s stock worth $30,299,000 after purchasing an additional 12,515 shares during the period. Finally, Private Management Group Inc. lifted 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 acquiring an additional 89,317 shares during the period. Institutional investors and hedge funds own 10.29% of the company’s stock.

Liberty Broadband Price Performance

Shares of NASDAQ:LBRDA opened at $84.20 on Tuesday. The company’s 50 day moving average is $83.44 and its 200 day moving average is $66.33. Liberty Broadband Co. has a twelve month low of $47.17 and a twelve month high of $100.44. The company has a market cap of $12.03 billion, a PE ratio of 15.51 and a beta of 1.05. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40.

Liberty Broadband (NASDAQ:LBRDA) last issued 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 $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 previous year, the business posted $1.10 EPS.

Insider Buying and Selling at Liberty Broadband

In related news, CAO Brian J. Wendling sold 2,208 shares of the 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 transaction, the chief accounting officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the company’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 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. Over the last three months, insiders have sold 6,673 shares of company stock worth $509,688. 14.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LBRDA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 target price (up previously from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th. Rosenblatt Securities downgraded Liberty Broadband from a “buy” rating to a “neutral” rating and boosted their price target for the company from $91.00 to $92.00 in a research note on Thursday, November 14th.

Liberty Broadband Company 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.