Victory Capital Management Inc. Cuts Stake in Liberty Broadband Co. (NASDAQ:LBRDK)

Victory Capital Management Inc. cut its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,392 shares of the company’s stock after selling 285 shares during the period. Victory Capital Management Inc.’s holdings in Liberty Broadband were worth $1,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whitebox Advisors LLC raised its position in Liberty Broadband by 29.5% in the 2nd 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 during the period. Assenagon Asset Management S.A. boosted its holdings in Liberty Broadband by 107.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,899,318 shares of the company’s stock valued at $224,088,000 after acquiring an additional 1,502,249 shares during the period. Dimensional Fund Advisors LP grew its position in Liberty Broadband by 19.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock valued at $113,045,000 after acquiring an additional 330,159 shares during the last quarter. Highbridge Capital Management LLC increased its stake in Liberty Broadband by 22.6% in the second quarter. Highbridge Capital Management LLC now owns 1,127,951 shares of the company’s stock worth $61,834,000 after purchasing an additional 208,153 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Liberty Broadband by 67.4% during the second quarter. Millennium Management LLC now owns 1,032,186 shares of the company’s stock worth $56,584,000 after purchasing an additional 415,619 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors.

Liberty Broadband Stock Performance

Shares of NASDAQ LBRDK opened at $85.32 on Wednesday. The company has a 50 day simple moving average of $82.12 and a two-hundred day simple moving average of $66.01. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 15.71 and a beta of 1.02. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. Liberty Broadband Co. has a 12 month low of $46.46 and a 12 month high of $101.50.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly 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). The company had revenue of $262.00 million for the quarter, compared to analyst estimates of $237.41 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, analysts predict that Liberty Broadband Co. will post 6.72 earnings per share for the current year.

Insider Transactions at Liberty Broadband

In other news, CAO Brian J. Wendling sold 2,208 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the sale, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. This trade represents a 16.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the 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 transaction, the insider now directly owns 3,670 shares of the company’s stock, valued at $280,975.20. The trade was a 54.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,673 shares of company stock valued at $509,688 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LBRDK shares. StockNews.com began coverage on shares of Liberty Broadband in a research report on Thursday, November 21st. They set a “sell” rating on the stock. Rosenblatt Securities increased their target price 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.

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.