Franklin Resources Inc. Buys Shares of 2,174 Liberty Broadband Co. (NASDAQ:LBRDK)

Franklin Resources Inc. purchased a new position in Liberty Broadband Co. (NASDAQ:LBRDK) in the third quarter, Holdings Channel reports. The fund purchased 2,174 shares of the company’s stock, valued at approximately $175,000.

Several other institutional investors have also made changes to their positions in LBRDK. Groupama Asset Managment acquired a new stake in shares of Liberty Broadband in the third quarter worth $25,000. Quarry LP acquired a new position in Liberty Broadband in the 3rd quarter valued at $28,000. GAMMA Investing LLC raised its holdings in Liberty Broadband by 200.7% in the 3rd quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock worth $33,000 after acquiring an additional 283 shares during the period. Capital Advisors Ltd. LLC lifted its position in Liberty Broadband by 75.8% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 443 shares of the company’s stock worth $34,000 after acquiring an additional 191 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Liberty Broadband during the third quarter valued at about $82,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Liberty Broadband in a research note on Tuesday. They issued a “sell” rating on the stock.

Insiders Place Their Bets

In related news, CEO Gregory B. Maffei sold 71,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,827,013 shares in the company, valued at approximately $231,815,066. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 196,542 shares of company stock worth $15,834,108. Corporate insiders own 10.80% of the company’s stock.

Liberty Broadband Stock Performance

Liberty Broadband stock opened at $75.98 on Friday. The company has a market cap of $10.85 billion, a PE ratio of 13.99 and a beta of 1.02. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $101.50. The company’s 50-day moving average is $84.36 and its two-hundred day moving average is $71.09.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.99 EPS 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 the consensus estimate of $237.41 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same period last year, the company earned $1.10 earnings per share. Equities analysts anticipate that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

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.