Citigroup Inc. Decreases Stake in Liberty Broadband Co. (NASDAQ:LBRDK)

Citigroup Inc. reduced its stake in Liberty Broadband Co. (NASDAQ:LBRDK – Get Rating) by 56.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,499 shares of the company’s stock after selling 45,856 shares during the period. Citigroup Inc.’s holdings in Liberty Broadband were worth $2,708,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Belpointe Asset Management LLC purchased a new position in shares of Liberty Broadband during the fourth quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. grew its stake in Liberty Broadband by 701.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the company’s stock worth $33,000 after purchasing an additional 379 shares during the period. Nisa Investment Advisors LLC grew its stake in Liberty Broadband by 34.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $48,000 after purchasing an additional 160 shares during the period. Neo Ivy Capital Management purchased a new stake in Liberty Broadband in the third quarter worth $61,000. Finally, Arcus Capital Partners LLC purchased a new stake in Liberty Broadband in the fourth quarter worth $72,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LBRDK has been the topic of several recent research reports. TD Securities reduced their price target on Liberty Broadband from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, February 21st. StockNews.com assumed coverage on Liberty Broadband in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Citigroup boosted their target price on Liberty Broadband from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. Pivotal Research dropped their target price on Liberty Broadband from $150.00 to $138.00 in a report on Wednesday, May 3rd. Finally, Rosenblatt Securities dropped their target price on Liberty Broadband from $133.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $127.60.

Insider Buying and Selling

In related news, CAO Brian J. Wendling sold 6,419 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $77.59, for a total transaction of $498,050.21. Following the completion of the sale, the chief accounting officer now directly owns 12,274 shares of the company’s stock, valued at approximately $952,339.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.80% of the stock is owned by corporate insiders.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock opened at $76.63 on Wednesday. The stock has a 50 day moving average of $78.98 and a 200 day moving average of $83.49. Liberty Broadband Co. has a 12 month low of $68.67 and a 12 month high of $126.62. The firm has a market cap of $11.20 billion, a PE ratio of 11.52 and a beta of 1.12. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44.

Liberty Broadband (NASDAQ:LBRDK – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($1.32). The company had revenue of $246.00 million during the quarter, compared to the consensus estimate of $243.00 million. Liberty Broadband had a net margin of 104.48% and a return on equity of 11.84%. On average, research analysts expect that Liberty Broadband Co. will post 7.98 EPS for the current fiscal year.

Liberty Broadband Company Profile

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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.