Aviva PLC Lowers Stock Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Aviva PLC reduced its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK – Get Rating) by 75.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,742 shares of the company’s stock after selling 51,995 shares during the period. Aviva PLC’s holdings in Liberty Broadband were worth $21,563,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CI Investments Inc. raised its stake in Liberty Broadband by 106.5% during the 4th quarter. CI Investments Inc. now owns 349 shares of the company’s stock valued at $27,000 after purchasing an additional 180 shares during the period. Belpointe Asset Management LLC bought a new stake in Liberty Broadband in the 4th quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. increased its stake in Liberty Broadband by 701.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the company’s stock worth $33,000 after acquiring an additional 379 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Liberty Broadband by 34.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $48,000 after acquiring an additional 160 shares during the last quarter. Finally, Covestor Ltd increased its stake in Liberty Broadband by 301.5% in the 1st quarter. Covestor Ltd now owns 783 shares of the company’s stock worth $106,000 after acquiring an additional 588 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Liberty Broadband

In related news, CAO Brian J. Wendling sold 6,419 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 12,274 shares in the company, valued at approximately $952,339.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on LBRDK. Citigroup lifted their price objective on Liberty Broadband from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 3rd. Rosenblatt Securities reduced their price objective on Liberty Broadband from $133.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, February 24th. Pivotal Research cut their target price on Liberty Broadband from $150.00 to $138.00 in a research report on Wednesday, May 3rd. StockNews.com began coverage on Liberty Broadband in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, TD Securities cut their target price on Liberty Broadband from $175.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Liberty Broadband currently has an average rating of “Hold” and an average target price of $127.60.

Liberty Broadband Stock Performance

NASDAQ LBRDK opened at $73.18 on Friday. The company has a market cap of $10.70 billion, a P/E ratio of 11.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.55. The business’s 50 day moving average price is $78.79 and its 200-day moving average price is $83.37. Liberty Broadband Co. has a fifty-two week low of $68.67 and a fifty-two week high of $126.62.

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 analysts’ consensus estimates of $1.79 by ($1.32). Liberty Broadband had a net margin of 104.48% and a return on equity of 11.84%. The business had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $243.00 million. Sell-side analysts predict that Liberty Broadband Co. will post 7.98 earnings per share for the current year.

Liberty Broadband 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.