M&T Bank Corp Cuts Stake in Liberty Broadband Co. (NASDAQ:LBRDK)

M&T Bank Corp cut its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,986 shares of the company’s stock after selling 213 shares during the quarter. M&T Bank Corp’s holdings in Liberty Broadband were worth $617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Liberty Broadband by 0.5% during the third quarter. The Manufacturers Life Insurance Company now owns 27,186 shares of the company’s stock worth $2,101,000 after buying an additional 125 shares during the period. Capital Advisors Ltd. LLC grew 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 acquiring an additional 191 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Liberty Broadband by 200.7% in the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock valued at $33,000 after purchasing an additional 283 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Liberty Broadband in the 3rd quarter valued at $25,000. Finally, Quarry LP acquired a new position in shares of Liberty Broadband during the third quarter worth $28,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock opened at $80.44 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $101.50. The firm’s 50 day moving average is $85.24 and its two-hundred day moving average is $69.29. The firm has a market capitalization of $11.49 billion, a P/E ratio of 14.81 and a beta of 1.02.

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Liberty Broadband in a research note on Sunday. They issued a “sell” rating on the stock.

Insider Transactions at Liberty Broadband

In other Liberty Broadband news, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total value of $338,624.88. Following the transaction, the insider now directly owns 3,670 shares in the company, valued at approximately $280,975.20. The trade was a 54.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian J. Wendling sold 2,208 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.84, for a total transaction of $167,454.72. Following the sale, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at $838,335.36. This trade represents a 16.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,673 shares of company stock worth $509,688. Corporate insiders own 10.80% of the company’s stock.

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.