Liberty Broadband Co. (NASDAQ:LBRDK) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its position in Liberty Broadband Co. (NASDAQ:LBRDK) by 67.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,032,186 shares of the company’s stock after acquiring an additional 415,619 shares during the quarter. Millennium Management LLC owned 0.72% of Liberty Broadband worth $56,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Liberty Broadband by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 11,213,505 shares of the company’s stock worth $903,696,000 after purchasing an additional 243,156 shares in the last quarter. Whitebox Advisors LLC lifted its stake in shares of Liberty Broadband by 29.5% during the second quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company’s stock worth $163,260,000 after purchasing an additional 677,785 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Liberty Broadband by 19.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock worth $113,045,000 after acquiring an additional 330,159 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Liberty Broadband by 426.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,397,069 shares of the company’s stock worth $76,587,000 after acquiring an additional 1,131,743 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its position in shares of Liberty Broadband by 22.6% during the second quarter. Highbridge Capital Management LLC now owns 1,127,951 shares of the company’s stock worth $61,834,000 after acquiring an additional 208,153 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Stock Down 1.1 %

Shares of Liberty Broadband stock opened at $77.29 on Tuesday. The firm has a market cap of $11.04 billion, a P/E ratio of 13.12 and a beta of 1.02. The business has a 50-day moving average price of $63.74 and a 200 day moving average price of $56.69. Liberty Broadband Co. has a fifty-two week low of $46.46 and a fifty-two week high of $95.53. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.39.

Liberty Broadband (NASDAQ:LBRDK) last posted its earnings results on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.15). The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $244.25 million. Liberty Broadband had a net margin of 81.86% and a return on equity of 8.79%. During the same period last year, the company posted $1.71 earnings per share. On average, sell-side analysts forecast that Liberty Broadband Co. will post 9.05 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Renee L. Wilm sold 4,423 shares of the business’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 transaction of $338,624.88. Following the completion of the transaction, the insider now directly owns 3,670 shares in the company, valued at $280,975.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Renee L. Wilm sold 4,423 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian J. Wendling sold 2,208 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the sale, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LBRDK shares. Morgan Stanley lifted their target price on Liberty Broadband from $62.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Rosenblatt Securities lifted their target price on Liberty Broadband from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th.

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.