PNC Financial Services Group Inc. Decreases Position in Liberty Broadband Co. (NASDAQ:LBRDK)

PNC Financial Services Group Inc. trimmed its position in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 77,863 shares of the company’s stock after selling 3,393 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Liberty Broadband were worth $6,275,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LBRDK. Vanguard Group Inc. raised its holdings in shares of Liberty Broadband by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 11,213,505 shares of the company’s stock worth $903,696,000 after acquiring an additional 243,156 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Liberty Broadband by 18.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 422,179 shares of the company’s stock worth $34,023,000 after acquiring an additional 65,855 shares during the last quarter. Comerica Bank raised its holdings in shares of Liberty Broadband by 2.4% in the fourth quarter. Comerica Bank now owns 19,500 shares of the company’s stock worth $1,571,000 after acquiring an additional 466 shares during the last quarter. Mango Investments LLC acquired a new position in shares of Liberty Broadband in the fourth quarter worth $49,570,000. Finally, Nebula Research & Development LLC acquired a new position in shares of Liberty Broadband in the fourth quarter worth $995,000. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director J David Wargo sold 15,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $51.98, for a total value of $779,700.00. Following the completion of the sale, the director now owns 72,332 shares of the company’s stock, valued at $3,759,817.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.80% of the stock is currently owned by insiders.

Liberty Broadband Stock Performance

Liberty Broadband stock opened at $51.55 on Tuesday. The firm has a market capitalization of $7.36 billion, a P/E ratio of 8.75 and a beta of 1.02. The stock has a fifty day moving average price of $51.31 and a 200 day moving average price of $62.25. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $95.68. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.69 EPS for the quarter, missing the consensus estimate of $2.38 by ($0.69). The firm had revenue of $245.00 million for the quarter, compared to analyst estimates of $244.41 million. Liberty Broadband had a return on equity of 9.55% and a net margin of 87.75%. Equities research analysts anticipate that Liberty Broadband Co. will post 9.13 earnings per share for the current year.

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.