Point72 Asset Management L.P. Acquires 104,272 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Point72 Asset Management L.P. boosted its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 54.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,641 shares of the company’s stock after purchasing an additional 104,272 shares during the quarter. Point72 Asset Management L.P.’s holdings in Liberty Broadband were worth $22,773,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in 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 acquiring an additional 1,502,249 shares during the last quarter. Whitebox Advisors LLC increased its position 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 purchasing an additional 677,785 shares during the last quarter. Millennium Management LLC raised its holdings in Liberty Broadband by 67.4% during the 2nd quarter. Millennium Management LLC now owns 1,032,186 shares of the company’s stock valued at $56,584,000 after buying an additional 415,619 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 worth $72,666,000 after buying an additional 366,614 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Liberty Broadband by 19.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock worth $113,045,000 after buying an additional 330,159 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Broadband Stock Up 0.1 %

Liberty Broadband stock opened at $86.48 on Friday. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $101.50. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 15.93 and a beta of 1.02. The business’s 50-day moving average price is $84.64 and its 200 day moving average price is $67.39. 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 (NASDAQ:LBRDK) last announced its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($1.69). The business had revenue of $262.00 million for the quarter, compared to analysts’ expectations of $237.41 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter last year, the business earned $1.10 EPS. As a group, sell-side analysts anticipate that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LBRDK has been the subject of several recent analyst reports. StockNews.com initiated coverage on Liberty Broadband in a research report on Friday, November 29th. They set a “sell” rating for the company. Rosenblatt Securities upped 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.

Insider Activity

In other news, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction dated Wednesday, September 25th. The stock was 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 approximately $280,975.20. This trade represents a 54.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 6,673 shares of company stock valued at $509,688. 10.80% of the stock is currently owned by insiders.

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.