StockNews.com Initiates Coverage on Liberty Broadband (NASDAQ:LBRDK)

Equities researchers at StockNews.com initiated coverage on shares of Liberty Broadband (NASDAQ:LBRDK) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the stock.

Liberty Broadband Price Performance

LBRDK opened at $76.30 on Wednesday. The firm has a market capitalization of $10.90 billion, a P/E ratio of 14.05 and a beta of 1.04. The stock has a fifty day moving average of $83.87 and a 200-day moving average of $71.97. 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 has a 12-month low of $46.46 and a 12-month high of $101.50.

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

Insider Activity at Liberty Broadband

In related news, CEO Gregory B. Maffei sold 125,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total value of $9,967,500.00. Following the transaction, the chief executive officer now owns 1,435,256 shares in the company, valued at approximately $114,447,313.44. This represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 196,542 shares of company stock valued at $15,834,108. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its holdings in Liberty Broadband by 107.5% in 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 in the last quarter. Whitebox Advisors LLC increased its holdings in shares of 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 acquiring an additional 677,785 shares during the last quarter. 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 purchasing an additional 415,619 shares during the last quarter. Barclays PLC boosted its position in Liberty Broadband by 6.4% during the third quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock worth $533,251,000 after purchasing an additional 415,496 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Liberty Broadband by 63.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 940,168 shares of the company’s stock valued at $72,666,000 after purchasing an additional 366,614 shares during the period. Institutional investors and hedge funds own 80.22% of the company’s stock.

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.