Insider Selling: Liberty Broadband Co. (NASDAQ:LBRDA) CEO Sells $9,967,500.00 in Stock

Liberty Broadband Co. (NASDAQ:LBRDA) CEO Gregory B. Maffei sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,435,256 shares of the company’s stock, valued at approximately $114,447,313.44. This represents a 8.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock opened at $76.70 on Friday. Liberty Broadband Co. has a 52-week low of $47.17 and a 52-week high of $100.44. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of 14.13 and a beta of 1.05. The company has a fifty day moving average of $84.48 and a 200-day moving average of $69.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.99 EPS 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 firm had revenue of $262.00 million for the quarter, compared to the consensus estimate of $242.40 million. During the same quarter in the prior year, the company earned $1.10 earnings per share.

Institutional Investors Weigh In On Liberty Broadband

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in Liberty Broadband during the 3rd quarter valued at $30,000. American National Bank & Trust bought a new position in Liberty Broadband in the 3rd quarter worth $32,000. GAMMA Investing LLC raised its holdings in Liberty Broadband by 161.8% in the 3rd quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock worth $48,000 after purchasing an additional 390 shares in the last quarter. Paloma Partners Management Co bought a new position in Liberty Broadband in the 3rd quarter worth $54,000. Finally, Glenmede Trust Co. NA raised 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 worth $76,000 after purchasing an additional 533 shares in the last quarter. 10.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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. 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.