Private Management Group Inc. Has $15.81 Million Stake in Liberty Broadband Co. (NASDAQ:LBRDA)

Private Management Group Inc. reduced its position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) by 29.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 212,634 shares of the company’s stock after selling 87,095 shares during the period. Private Management Group Inc.’s holdings in Liberty Broadband were worth $15,811,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Liberty Broadband by 9.1% during the third quarter. Signaturefd LLC now owns 2,119 shares of the company’s stock valued at $163,000 after buying an additional 177 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Liberty Broadband during the 3rd quarter worth about $30,000. GAMMA Investing LLC grew 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 acquiring an additional 390 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of 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, Paloma Partners Management Co purchased a new stake in shares of Liberty Broadband in the third quarter worth approximately $54,000. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Liberty Broadband Trading Up 1.6 %

Shares of NASDAQ LBRDA opened at $76.38 on Thursday. The business has a 50 day simple moving average of $78.11 and a 200 day simple moving average of $74.31. Liberty Broadband Co. has a 52 week low of $47.17 and a 52 week high of $100.44. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 14.07 and a beta of 1.07. 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 earnings results on Thursday, November 7th. The company reported $0.99 earnings per share (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 business had revenue of $262.00 million during the quarter, compared to analyst estimates of $242.40 million. During the same quarter last year, the firm earned $1.10 earnings per share.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LBRDA. Rosenblatt Securities downgraded shares of Liberty Broadband from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $91.00 to $92.00 in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $95.00 target price (up previously from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th.

Insider Activity

In other Liberty Broadband news, CEO Gregory B. Maffei sold 125,000 shares of the company’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 sale, the chief executive officer now owns 1,435,256 shares of the company’s stock, valued at $114,447,313.44. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 196,542 shares of company stock worth $15,834,108. 14.19% of the stock is owned by corporate insiders.

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.