Principal Financial Group Inc. Sells 609 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Principal Financial Group Inc. lessened its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,151 shares of the company’s stock after selling 609 shares during the period. Principal Financial Group Inc.’s holdings in Liberty Broadband were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in Liberty Broadband by 4,888.9% in the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company’s stock worth $25,000 after purchasing an additional 440 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Liberty Broadband by 200.7% in the third quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock valued at $33,000 after purchasing an additional 283 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Liberty Broadband by 75.8% in the third quarter. Capital Advisors Ltd. LLC now owns 443 shares of the company’s stock worth $34,000 after buying an additional 191 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of Liberty Broadband during the 2nd quarter worth $36,000. Finally, Mather Group LLC. raised its holdings in Liberty Broadband by 103.7% in the 2nd quarter. Mather Group LLC. now owns 762 shares of the company’s stock worth $44,000 after acquiring an additional 388 shares during the period. Institutional investors and hedge funds own 80.22% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction dated 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 $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 through this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the stock in a transaction dated 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 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. In the last quarter, insiders sold 6,673 shares of company stock worth $509,688. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities upped their price target on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com initiated coverage on Liberty Broadband in a report on Thursday. They issued a “sell” rating on the stock.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock opened at $86.92 on Friday. The firm has a fifty day moving average price of $81.17 and a two-hundred day moving average price of $65.46. Liberty Broadband Co. has a fifty-two week low of $46.46 and a fifty-two week high of $101.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market cap of $12.42 billion, a PE ratio of 16.01 and a beta of 1.02.

Liberty Broadband (NASDAQ:LBRDK) last released its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($1.69). 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 during the quarter, compared to the consensus estimate of $237.41 million. During the same quarter in the previous year, the business posted $1.10 EPS. Analysts expect that Liberty Broadband Co. will post 6.72 EPS for the current year.

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.