PNC Financial Services Group Inc. Sells 3,551 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

PNC Financial Services Group Inc. cut its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 71,162 shares of the company’s stock after selling 3,551 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Liberty Broadband were worth $5,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC grew its position in shares of Liberty Broadband by 6.4% in the 3rd quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock valued at $533,251,000 after purchasing an additional 415,496 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Liberty Broadband by 23.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,585,407 shares of the company’s stock valued at $268,045,000 after purchasing an additional 686,089 shares during the period. Geode Capital Management LLC grew its position in shares of Liberty Broadband by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,014,571 shares of the company’s stock valued at $155,736,000 after purchasing an additional 31,484 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Liberty Broadband by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 972,544 shares of the company’s stock valued at $72,707,000 after purchasing an additional 32,376 shares during the period. Finally, Rothschild & Co Wealth Management UK Ltd boosted its position in Liberty Broadband by 0.8% during the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 838,969 shares of the company’s stock worth $62,721,000 after acquiring an additional 6,841 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Liberty Broadband in a research report on Thursday. They set a “sell” rating for the company.

Insiders Place Their Bets

In other news, CEO Gregory B. Maffei sold 125,000 shares of Liberty Broadband stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the sale, the chief executive officer now directly owns 1,435,256 shares of the company’s stock, valued at approximately $114,447,313.44. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 10.80% of the company’s stock.

Liberty Broadband Trading Down 1.1 %

NASDAQ:LBRDK opened at $80.27 on Thursday. The company has a market cap of $11.50 billion, a P/E ratio of 14.78 and a beta of 1.06. 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 Co. has a twelve month low of $46.46 and a twelve month high of $101.50. The business has a 50 day moving average price of $79.31 and a two-hundred day moving average price of $78.39.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.63). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The business had revenue of $253.00 million during the quarter, compared to the consensus estimate of $252.50 million. As a group, analysts expect that Liberty Broadband Co. will post 7.71 EPS 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.