Liberty Broadband Co. (NASDAQ:LBRDK) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in Liberty Broadband Co. (NASDAQ:LBRDK) by 2.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm 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 filing with the SEC.

A number of other large investors also recently bought and sold shares of LBRDK. Assenagon Asset Management S.A. raised its stake in shares of Liberty Broadband by 107.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,899,318 shares of the company’s stock worth $224,088,000 after buying an additional 1,502,249 shares in the last quarter. Whitebox Advisors LLC grew its holdings in Liberty Broadband by 29.5% during the second quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company’s stock worth $163,260,000 after acquiring an additional 677,785 shares during the period. Millennium Management LLC raised its position in Liberty Broadband by 67.4% in the second quarter. Millennium Management LLC now owns 1,032,186 shares of the company’s stock worth $56,584,000 after acquiring an additional 415,619 shares in the last quarter. Barclays PLC lifted its holdings in Liberty Broadband by 6.4% in the third quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock valued at $533,251,000 after acquiring an additional 415,496 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 acquiring an additional 366,614 shares during the period. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Insider Buying and Selling

In other news, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 11,054 shares of the company’s stock, valued at $838,335.36. The trade was a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of the company’s 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 completion of the sale, the insider now owns 3,670 shares in the company, valued at $280,975.20. This represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,673 shares of company stock worth $509,688 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Liberty Broadband in a research note on Sunday. They set a “sell” rating on the stock.

Liberty Broadband Price Performance

Shares of NASDAQ:LBRDK opened at $80.44 on Wednesday. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 14.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The business’s 50 day simple moving average is $85.24 and its 200-day simple moving average is $69.29. Liberty Broadband Co. has a 12 month low of $46.46 and a 12 month high of $101.50.

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 return on equity of 8.45% and a net margin of 78.07%. The firm had revenue of $262.00 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter in the previous year, the firm posted $1.10 earnings per share. As a group, equities analysts forecast that Liberty Broadband Co. will post 6.72 earnings per share for the current fiscal year.

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.