Richard N. Baer Sells 1,985 Shares of Liberty Broadband Corp. (LBRDA) Stock
Liberty Broadband Corp. (NASDAQ:LBRDA) insider Richard N. Baer sold 1,985 shares of the firm’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $68.17, for a total transaction of $135,317.45. Following the transaction, the insider now owns 4,843 shares of the company’s stock, valued at approximately $330,147.31. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Liberty Broadband Corp. (NASDAQ:LBRDA) traded up 0.18% on Tuesday, hitting $66.80. 139,688 shares of the company’s stock traded hands. Liberty Broadband Corp. has a 1-year low of $42.03 and a 1-year high of $71.77. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 9.23 and a beta of 1.38. The firm’s 50-day moving average price is $69.21 and its 200 day moving average price is $62.62.
LBRDA has been the subject of several research reports. Deutsche Bank AG raised their price objective on shares of Liberty Broadband Corp. from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Pivotal Research restated a “buy” rating and set a $94.00 price objective on shares of Liberty Broadband Corp. in a research report on Monday, September 26th. Wunderlich raised their price objective on shares of Liberty Broadband Corp. from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded shares of Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $77.00.
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A number of hedge funds and other institutional investors have recently modified their holdings of LBRDA. Douglass Winthrop Advisors LLC bought a new position in shares of Liberty Broadband Corp. during the second quarter valued at about $2,309,000. First Republic Investment Management Inc. increased its position in shares of Liberty Broadband Corp. by 104.4% in the first quarter. First Republic Investment Management Inc. now owns 338,334 shares of the company’s stock valued at $19,678,000 after buying an additional 172,769 shares during the period. Babson Capital Management LLC bought a new position in shares of Liberty Broadband Corp. during the first quarter valued at about $1,215,000. Marcato Capital Management LP increased its position in shares of Liberty Broadband Corp. by 36.3% in the first quarter. Marcato Capital Management LP now owns 589,439 shares of the company’s stock valued at $34,282,000 after buying an additional 157,057 shares during the period. Finally, Bridger Management LLC bought a new position in shares of Liberty Broadband Corp. during the first quarter valued at about $25,351,000. Institutional investors and hedge funds own 79.30% of the company’s stock.
Liberty Broadband Corp. Company Profile
Liberty Broadband Corporation holds interests in Charter Communications, Inc (Charter), TruePosition, Inc (TruePosition) and Time Warner Cable, Inc (TWC). The Company’s segments include Trueposition, Charter, and Corporate and other. The TruePosition segment includes the operations of TruePosition, a subsidiary of the Company that develops and markets technology for locating wireless phones and other wireless devices on a cellular network, enabling wireless carriers and government agencies to provide public safety E-9-1-1 services domestically and services in support of national security and law enforcement across the world.
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