Franklin Resources Inc. Purchases Shares of 370 Liberty Broadband Co. (NASDAQ:LBRDA)

Franklin Resources Inc. purchased a new stake in Liberty Broadband Co. (NASDAQ:LBRDA) during the third quarter, HoldingsChannel.com reports. The fund purchased 370 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. American National Bank & Trust acquired a new position in shares of Liberty Broadband during the third quarter worth approximately $32,000. GAMMA Investing LLC raised its stake in Liberty Broadband by 161.8% during the 3rd quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock valued at $48,000 after purchasing an additional 390 shares during the last quarter. Paloma Partners Management Co bought a new stake in Liberty Broadband in the 3rd quarter valued at $54,000. Glenmede Trust Co. NA boosted its holdings in Liberty Broadband by 116.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock valued at $76,000 after purchasing an additional 533 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Liberty Broadband during the 3rd quarter worth about $79,000. 10.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Liberty Broadband

In other news, CEO Gregory B. Maffei sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the completion of the sale, the chief executive officer now owns 1,435,256 shares of the company’s stock, valued at approximately $114,447,313.44. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 196,542 shares of company stock valued at $15,834,108 in the last 90 days. 14.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LBRDA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $95.00 target price (up previously from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th. Rosenblatt Securities downgraded Liberty Broadband from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $91.00 to $92.00 in a research report on Thursday, November 14th.

Liberty Broadband Price Performance

NASDAQ:LBRDA opened at $75.46 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The company has a 50-day moving average of $83.72 and a 200-day moving average of $70.40. Liberty Broadband Co. has a 52 week low of $47.17 and a 52 week high of $100.44. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 13.90 and a beta of 1.05.

Liberty Broadband (NASDAQ:LBRDA) last released 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 company had revenue of $262.00 million for the quarter, compared to analyst estimates of $242.40 million. During the same period in the previous year, the firm posted $1.10 earnings per share.

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. 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.