HighTower Advisors LLC cut its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK – Get Rating) by 11.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,475 shares of the company’s stock after selling 6,465 shares during the period. HighTower Advisors LLC’s holdings in Liberty Broadband were worth $3,785,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC acquired a new position in shares of Liberty Broadband during the fourth quarter worth $27,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Liberty Broadband by 701.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the company’s stock worth $33,000 after buying an additional 379 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Liberty Broadband by 34.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $48,000 after purchasing an additional 160 shares during the period. Neo Ivy Capital Management acquired a new stake in Liberty Broadband in the third quarter valued at $61,000. Finally, Arcus Capital Partners LLC acquired a new stake in Liberty Broadband in the fourth quarter valued at $72,000. 76.81% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently weighed in on LBRDK. StockNews.com began coverage on Liberty Broadband in a report on Thursday. They issued a “sell” rating for the company. Citigroup increased their price objective on Liberty Broadband from $111.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 3rd. TD Securities decreased their price objective on Liberty Broadband from $175.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, February 21st. Rosenblatt Securities decreased their price target on Liberty Broadband from $133.00 to $132.00 and set a “buy” rating for the company in a report on Friday, February 24th. Finally, Pivotal Research decreased their price target on Liberty Broadband from $150.00 to $138.00 in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $127.60.
Liberty Broadband Stock Performance
Liberty Broadband (NASDAQ:LBRDK – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($1.32). The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $243.00 million. Liberty Broadband had a return on equity of 11.84% and a net margin of 104.48%. As a group, analysts anticipate that Liberty Broadband Co. will post 7.98 EPS for the current year.
Insider Transactions at Liberty Broadband
In other news, CAO Brian J. Wendling sold 6,419 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $77.59, for a total transaction of $498,050.21. Following the transaction, the chief accounting officer now owns 12,274 shares of the company’s stock, valued at approximately $952,339.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.80% of the company’s stock.
Liberty Broadband Profile
Liberty Broadband Corp. operates as a holding company, which engages in the cable, broadband and mobile location technology businesses. It operates through its subsidiaries, Charter Communications, Inc and TruePosition, Inc The company was founded on March 28, 1991, and is headquartered in Englewood, CO.
- Get a free copy of the StockNews.com research report on Liberty Broadband (LBRDK)
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