M&T Bank Corp Takes $338,000 Position in Liberty Broadband Co. (NASDAQ:LBRDA)

M&T Bank Corp bought a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,404 shares of the company’s stock, valued at approximately $338,000.

Several other institutional investors also recently bought and sold shares of the stock. Baupost Group LLC MA acquired a new position in shares of Liberty Broadband in the third quarter worth about $581,000. Verition Fund Management LLC acquired a new position in Liberty Broadband in the 3rd quarter worth about $6,402,000. Creative Planning raised its holdings in Liberty Broadband by 48.5% in the 3rd quarter. Creative Planning now owns 15,884 shares of the company’s stock worth $1,220,000 after purchasing an additional 5,186 shares during the period. Seizert Capital Partners LLC boosted its position in Liberty Broadband by 3.3% during the third quarter. Seizert Capital Partners LLC now owns 394,418 shares of the company’s stock worth $30,299,000 after purchasing an additional 12,515 shares in the last quarter. Finally, Private Management Group Inc. grew its holdings in Liberty Broadband by 29.8% in the second quarter. Private Management Group Inc. now owns 388,923 shares of the company’s stock valued at $21,235,000 after purchasing an additional 89,317 shares during the period. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Liberty Broadband news, insider Renee L. Wilm sold 4,423 shares of the business’s 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 directly owns 3,670 shares in the company, valued at $280,975.20. The trade was a 54.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory B. Maffei sold 71,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $82.00, for a total transaction of $5,863,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at approximately $231,815,066. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,173 shares of company stock valued at $6,372,688 in the last ninety days. 14.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LBRDA. Rosenblatt Securities downgraded Liberty Broadband from a “buy” rating to a “neutral” rating and upped their target price for the stock from $91.00 to $92.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 price objective (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th.

Liberty Broadband Stock Performance

NASDAQ LBRDA opened at $77.12 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. Liberty Broadband Co. has a 1-year low of $47.17 and a 1-year high of $100.44. The company has a market cap of $11.02 billion, a PE ratio of 14.20 and a beta of 1.05. The stock’s 50 day simple moving average is $84.56 and its 200-day simple moving average is $68.70.

Liberty Broadband (NASDAQ:LBRDA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The firm had revenue of $262.00 million during the quarter, compared to analysts’ expectations of $242.40 million. During the same quarter in the previous year, the business posted $1.10 EPS.

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. 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.