Insider Selling: Liberty Broadband Corporation (LBRDA) Director Sells 46,000 Shares of Stock
Liberty Broadband Corporation (NASDAQ:LBRDA) Director John C. Malone sold 46,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $100.94, for a total value of $4,643,240.00. Following the completion of the sale, the director now directly owns 3,487,778 shares of the company’s stock, valued at approximately $352,056,311.32. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Liberty Broadband Corporation (LBRDA) traded down 0.99% during mid-day trading on Thursday, reaching $101.94. The company’s stock had a trading volume of 324,062 shares. The company’s 50-day moving average is $97.92 and its 200-day moving average is $88.78. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 599.65 and a beta of 1.48. Liberty Broadband Corporation has a 52 week low of $61.69 and a 52 week high of $104.35.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Liberty Broadband Corporation by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,748,982 shares of the company’s stock valued at $150,045,000 after acquiring an additional 75,769 shares in the last quarter. FMR LLC boosted its stake in Liberty Broadband Corporation by 32.5% in the first quarter. FMR LLC now owns 1,722,101 shares of the company’s stock valued at $146,534,000 after acquiring an additional 422,727 shares in the last quarter. BlackRock Inc. boosted its stake in Liberty Broadband Corporation by 20,817.7% in the first quarter. BlackRock Inc. now owns 1,567,360 shares of the company’s stock valued at $133,368,000 after acquiring an additional 1,559,867 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Liberty Broadband Corporation by 40.6% in the second quarter. Artemis Investment Management LLP now owns 669,279 shares of the company’s stock valued at $58,050,000 after acquiring an additional 193,130 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Liberty Broadband Corporation by 8.1% in the second quarter. Franklin Resources Inc. now owns 333,328 shares of the company’s stock valued at $28,596,000 after acquiring an additional 25,016 shares in the last quarter. Institutional investors own 81.97% of the company’s stock.
A number of analysts have recently weighed in on LBRDA shares. Pivotal Research reissued a “buy” rating and issued a $108.00 price objective (up previously from $107.00) on shares of Liberty Broadband Corporation in a research report on Tuesday, August 15th. BidaskClub raised Liberty Broadband Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. TheStreet cut Liberty Broadband Corporation from a “b” rating to a “c+” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised Liberty Broadband Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Telsey Advisory Group raised their price objective on Liberty Broadband Corporation from $95.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $111.67.
About Liberty Broadband Corporation
Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook). The Company’s segments include Skyhook, Charter, and Corporate and other. Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.
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