Clear Harbor Asset Management LLC Reduces Holdings in Liberty Broadband Co. (NASDAQ:LBRDK)

Clear Harbor Asset Management LLC lessened its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 63.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,576 shares of the company’s stock after selling 9,723 shares during the period. Clear Harbor Asset Management LLC’s holdings in Liberty Broadband were worth $431,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FORA Capital LLC acquired a new position in Liberty Broadband in the 1st quarter valued at $1,855,000. Qsemble Capital Management LP acquired a new stake in Liberty Broadband in the 1st quarter worth about $1,308,000. SG Americas Securities LLC grew its holdings in Liberty Broadband by 1,551.1% in the 1st quarter. SG Americas Securities LLC now owns 66,970 shares of the company’s stock valued at $3,833,000 after buying an additional 62,914 shares during the period. Duality Advisers LP acquired a new position in shares of Liberty Broadband during the 1st quarter valued at about $2,634,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Liberty Broadband by 19.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 146,721 shares of the company’s stock worth $8,397,000 after acquiring an additional 23,489 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Liberty Broadband

In related 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 transaction of $338,624.88. Following the transaction, the insider now directly owns 3,670 shares of the company’s stock, valued at $280,975.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Brian J. Wendling sold 2,208 shares of Liberty Broadband stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.84, for a total value of $167,454.72. Following the transaction, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 directly owns 3,670 shares in the company, valued at approximately $280,975.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.80% of the company’s stock.

Liberty Broadband Stock Up 1.2 %

LBRDK stock opened at $81.89 on Monday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $69.86 and a 200-day simple moving average of $59.95. The company has a market capitalization of $11.70 billion, a P/E ratio of 13.90 and a beta of 1.03. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $87.54.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.15). Liberty Broadband had a net margin of 81.86% and a return on equity of 8.79%. The business had revenue of $246.00 million during the quarter, compared to analyst estimates of $244.25 million. During the same period last year, the firm posted $1.71 earnings per share. On average, equities research analysts predict that Liberty Broadband Co. will post 8.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LBRDK shares. Rosenblatt Securities lifted their price target on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley lifted their target price on Liberty Broadband from $62.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, July 19th.

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.