Geode Capital Management LLC Sells 8,346 Shares of Liberty Broadband Co. (NASDAQ:LBRDA)

Geode Capital Management LLC lowered its position in Liberty Broadband Co. (NASDAQ:LBRDA) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 222,553 shares of the company’s stock after selling 8,346 shares during the period. Geode Capital Management LLC’s holdings in Liberty Broadband were worth $17,111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American National Bank & Trust bought a new position in shares of Liberty Broadband in the third quarter valued at $32,000. GAMMA Investing LLC raised its holdings in shares of Liberty Broadband by 161.8% in the 3rd quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock worth $48,000 after acquiring an additional 390 shares during the last quarter. Paloma Partners Management Co bought a new position in Liberty Broadband in the 3rd quarter valued at about $54,000. Glenmede Trust Co. NA boosted its stake in Liberty Broadband by 116.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock valued at $76,000 after purchasing an additional 533 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Liberty Broadband during the third quarter worth $79,000. Institutional investors and hedge funds own 10.29% of the company’s stock.

Analyst Upgrades and Downgrades

LBRDA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $95.00 target price (up previously from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th. Rosenblatt Securities cut Liberty Broadband from a “buy” rating to a “neutral” rating and upped their price target for the company from $91.00 to $92.00 in a research report on Thursday, November 14th.

Insider Activity at Liberty Broadband

In other Liberty Broadband news, CEO Gregory B. Maffei sold 71,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.00, for a total value of $5,863,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,827,013 shares in the company, valued at approximately $231,815,066. This represents a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 196,542 shares of company stock worth $15,834,108 in the last ninety days. 14.19% of the stock is owned by company insiders.

Liberty Broadband Price Performance

Shares of NASDAQ LBRDA opened at $75.61 on Monday. The firm has a market capitalization of $10.80 billion, a P/E ratio of 13.92 and a beta of 1.05. 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 $47.17 and a twelve month high of $100.44. The stock’s 50-day simple moving average is $84.12 and its two-hundred day simple moving average is $70.00.

Liberty Broadband (NASDAQ:LBRDA) last released its earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.66). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The business had revenue of $262.00 million for the quarter, compared to the consensus estimate of $242.40 million. During the same period in the prior year, the business posted $1.10 EPS.

About Liberty Broadband

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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.