Soros Fund Management LLC Sells 270,000 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Soros Fund Management LLC cut its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 19.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,119,893 shares of the company’s stock after selling 270,000 shares during the period. Liberty Broadband makes up 1.3% of Soros Fund Management LLC’s portfolio, making the stock its 19th largest position. Soros Fund Management LLC’s holdings in Liberty Broadband were worth $86,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LBRDK. Whitebox Advisors LLC boosted its position in Liberty Broadband by 29.5% during the 2nd quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company’s stock valued at $163,260,000 after buying an additional 677,785 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Liberty Broadband by 107.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,899,318 shares of the company’s stock worth $224,088,000 after purchasing an additional 1,502,249 shares during the period. Dimensional Fund Advisors LP increased its holdings in Liberty Broadband by 19.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock valued at $113,045,000 after purchasing an additional 330,159 shares during the period. Highbridge Capital Management LLC raised its position in Liberty Broadband by 22.6% during the 2nd quarter. Highbridge Capital Management LLC now owns 1,127,951 shares of the company’s stock valued at $61,834,000 after purchasing an additional 208,153 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Liberty Broadband by 67.4% in the 2nd quarter. Millennium Management LLC now owns 1,032,186 shares of the company’s stock worth $56,584,000 after buying an additional 415,619 shares during the period. Institutional investors own 80.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LBRDK shares. StockNews.com initiated coverage on shares of Liberty Broadband in a report 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 research report on Wednesday, August 14th.

Liberty Broadband Stock Up 0.1 %

NASDAQ:LBRDK opened at $86.48 on Friday. The firm has a 50-day simple moving average of $84.64 and a two-hundred day simple moving average of $67.39. Liberty Broadband Co. has a fifty-two week low of $46.46 and a fifty-two week 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. The firm has a market cap of $12.35 billion, a P/E ratio of 15.93 and a beta of 1.02.

Liberty Broadband (NASDAQ:LBRDK) last issued its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($1.69). The business had revenue of $262.00 million during 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 period last year, the firm posted $1.10 EPS. Analysts predict that Liberty Broadband Co. will post 6.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. This represents a 16.65 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction, the insider now owns 3,670 shares in the company, 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 have sold 6,673 shares of company stock valued at $509,688. 10.80% of the stock is owned by company insiders.

About Liberty Broadband

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.