StockNews.com Initiates Coverage on Liberty Broadband (NASDAQ:LBRDK)

Equities researchers at StockNews.com initiated coverage on shares of Liberty Broadband (NASDAQ:LBRDK) in a research note issued on Friday. The firm set a “sell” rating on the stock.

Separately, Rosenblatt Securities increased their price objective on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 14th.

Liberty Broadband Price Performance

Shares of LBRDK stock opened at $85.14 on Friday. The business has a fifty day simple moving average of $83.52 and a 200 day simple moving average of $66.58. The company has a market cap of $12.16 billion, a P/E ratio of 15.68 and a beta of 1.02. 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 has a twelve month low of $46.46 and a twelve month high of $101.50.

Liberty Broadband (NASDAQ:LBRDK) last issued its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($1.69). The company had revenue of $262.00 million during the quarter, compared to analyst estimates of $237.41 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter in the prior year, the business earned $1.10 EPS. On average, sell-side analysts forecast that Liberty Broadband will post 6.72 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Broadband

In other news, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were 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 directly owns 11,054 shares of the company’s stock, valued at $838,335.36. The trade was a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total value of $338,624.88. Following the transaction, the insider now owns 3,670 shares of the company’s stock, valued at $280,975.20. This trade represents a 54.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,673 shares of company stock valued at $509,688. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hi Line Capital Management LLC boosted its position in Liberty Broadband by 498.4% in the third quarter. Hi Line Capital Management LLC now owns 141,056 shares of the company’s stock worth $10,902,000 after purchasing an additional 117,483 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Liberty Broadband by 172.6% in the 2nd quarter. Bank of Montreal Can now owns 258,212 shares of the company’s stock worth $14,173,000 after buying an additional 163,502 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Liberty Broadband during the third quarter valued at about $861,000. Commonwealth Equity Services LLC bought a new position in Liberty Broadband during the second quarter valued at about $602,000. Finally, Logan Stone Capital LLC increased its holdings in Liberty Broadband by 1,134.1% during the second quarter. Logan Stone Capital LLC now owns 126,443 shares of the company’s stock worth $6,932,000 after buying an additional 116,197 shares during the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

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.