Gateway Investment Advisers LLC Acquires New Shares in Liberty Broadband Co. (NASDAQ:LBRDK)

Gateway Investment Advisers LLC purchased a new stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) in the third quarter, Holdings Channel.com reports. The firm purchased 2,939 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently made changes to their positions in the company. Wealthspire Advisors LLC grew its position in shares of Liberty Broadband by 6.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,244 shares of the company’s stock valued at $243,000 after purchasing an additional 268 shares in the last quarter. Wahed Invest LLC lifted its holdings in shares of Liberty Broadband by 14.2% during the 1st quarter. Wahed Invest LLC now owns 2,266 shares of the company’s stock worth $130,000 after acquiring an additional 281 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Liberty Broadband by 200.7% during 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 last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Liberty Broadband by 4.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,845 shares of the company’s stock worth $449,000 after acquiring an additional 300 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Liberty Broadband by 1.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 16,199 shares of the company’s stock worth $919,000 after acquiring an additional 302 shares during the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were 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 approximately $280,975.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were 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 approximately $280,975.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $167,454.72. Following the transaction, the chief accounting officer now directly owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by insiders.

Liberty Broadband Stock Performance

Liberty Broadband stock opened at $79.00 on Monday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $11.28 billion, a PE ratio of 13.41 and a beta of 1.03. The firm has a fifty day simple moving average of $66.53 and a two-hundred day simple moving average of $58.06. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $95.53.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($1.15). The business had revenue of $246.00 million during the quarter, compared to the consensus estimate of $244.25 million. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same period in the prior year, the firm earned $1.71 earnings per share. Research analysts expect that Liberty Broadband Co. will post 8.45 EPS for the current year.

Analyst Ratings Changes

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

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.