Liberty Broadband Co. (NASDAQ:LBRDK) Shares Sold by Wallace Capital Management Inc.

Wallace Capital Management Inc. cut its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 0.7% during the second quarter, HoldingsChannel reports. The fund owned 111,119 shares of the company’s stock after selling 802 shares during the period. Liberty Broadband comprises 0.8% of Wallace Capital Management Inc.’s holdings, making the stock its 20th biggest position. Wallace Capital Management Inc.’s holdings in Liberty Broadband were worth $6,092,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in shares of Liberty Broadband by 4,888.9% in the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company’s stock valued at $25,000 after buying an additional 440 shares during the period. Beach Investment Counsel Inc. PA purchased a new stake in Liberty Broadband during the second quarter worth about $36,000. Mather Group LLC. lifted its position in shares of Liberty Broadband by 103.7% during the second quarter. Mather Group LLC. now owns 762 shares of the company’s stock worth $44,000 after purchasing an additional 388 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Liberty Broadband by 88.9% in the first quarter. UniSuper Management Pty Ltd now owns 1,700 shares of the company’s stock valued at $97,000 after purchasing an additional 800 shares during the period. Finally, CWM LLC grew its holdings in shares of Liberty Broadband by 163.7% in the second quarter. CWM LLC now owns 2,255 shares of the company’s stock valued at $124,000 after purchasing an additional 1,400 shares in the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Broadband Stock Up 3.6 %

LBRDK stock opened at $78.14 on Monday. The company’s 50 day moving average is $63.31 and its two-hundred day moving average is $56.55. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $95.53. 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 stock has a market cap of $11.16 billion, a P/E ratio of 13.27 and a beta of 1.02.

Liberty Broadband (NASDAQ:LBRDK) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($1.15). Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. The firm had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $244.25 million. During the same quarter in the prior year, the business earned $1.71 EPS. Research analysts expect that Liberty Broadband Co. will post 9.05 earnings per share for the current fiscal year.

Insider Transactions at Liberty Broadband

In other news, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Brian J. Wendling sold 2,208 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the completion of the sale, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 3,670 shares in the company, valued at approximately $280,975.20. The disclosure for this sale can be found here. Insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on LBRDK shares. 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. Rosenblatt Securities lifted their price objective on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th.

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.