III Capital Management Buys Shares of 5,000 Liberty Broadband Co. (NASDAQ:LBRDK)

III Capital Management acquired a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the company’s stock, valued at approximately $386,000.

A number of other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Liberty Broadband by 4,888.9% during the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company’s stock worth $25,000 after acquiring an additional 440 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Liberty Broadband by 200.7% in the third quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock worth $33,000 after purchasing an additional 283 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Liberty Broadband by 75.8% during the third quarter. Capital Advisors Ltd. LLC now owns 443 shares of the company’s stock worth $34,000 after purchasing an additional 191 shares during the last quarter. Mather Group LLC. grew its position in Liberty Broadband by 103.7% in the second quarter. Mather Group LLC. now owns 762 shares of the company’s stock valued at $44,000 after purchasing an additional 388 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Liberty Broadband in the 3rd quarter valued at $82,000. Institutional investors and hedge funds own 80.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LBRDK. StockNews.com began coverage on shares of Liberty Broadband in a research note on Friday. They set a “sell” rating for the company. Rosenblatt Securities increased their price target 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 Performance

Liberty Broadband stock traded up $0.40 during midday trading on Tuesday, reaching $85.01. 25,413 shares of the company’s stock were exchanged, compared to its average volume of 1,194,042. The stock’s 50-day simple moving average is $83.99 and its 200 day simple moving average is $66.89. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 15.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $101.50.

Liberty Broadband (NASDAQ:LBRDK) last posted 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). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. 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. On average, analysts expect that Liberty Broadband Co. will post 6.72 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Brian J. Wendling sold 2,208 shares of Liberty Broadband stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the sale, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. This trade represents a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction 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. This trade 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 valued at $509,688 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

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.