Sequoia Financial Advisors LLC Buys New Stake in Liberty Broadband Co. (NASDAQ:LBRDK)

Sequoia Financial Advisors LLC bought a new stake in Liberty Broadband Co. (NASDAQ:LBRDK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,136 shares of the company’s stock, valued at approximately $861,000.

Several other hedge funds also recently made changes to their positions in LBRDK. Assenagon Asset Management S.A. grew its holdings in shares of Liberty Broadband by 426.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,397,069 shares of the company’s stock worth $76,587,000 after purchasing an additional 1,131,743 shares during the last quarter. Whitebox Advisors LLC grew its holdings in shares of Liberty Broadband by 29.5% during the second quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company’s stock worth $163,260,000 after buying an additional 677,785 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Liberty Broadband by 67.4% during the second quarter. Millennium Management LLC now owns 1,032,186 shares of the company’s stock worth $56,584,000 after buying an additional 415,619 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Liberty Broadband by 19.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock worth $113,045,000 after buying an additional 330,159 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Liberty Broadband by 147.6% during the second quarter. Natixis Advisors LLC now owns 425,921 shares of the company’s stock worth $23,349,000 after buying an additional 253,884 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Liberty Broadband Trading Up 1.2 %

Shares of LBRDK opened at $81.89 on Friday. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 14.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.68 and a quick ratio of 1.68. Liberty Broadband Co. has a 1-year low of $46.46 and a 1-year high of $87.54. The firm has a 50 day simple moving average of $69.48 and a 200-day simple moving average of $59.62.

Liberty Broadband (NASDAQ:LBRDK) last released its earnings results on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.15). Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. The firm had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $244.25 million. During the same period in the previous year, the firm posted $1.71 earnings per share. Equities analysts forecast that Liberty Broadband Co. will post 8.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on LBRDK. Morgan Stanley raised their price objective on shares of Liberty Broadband from $62.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Rosenblatt Securities raised their price objective on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th.

Insider Activity

In other news, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the sale, the chief accounting officer now directly owns 11,054 shares of the company’s stock, valued at $838,335.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the sale, the chief accounting officer now directly owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total transaction of $338,624.88. Following the sale, the insider now directly owns 3,670 shares of the company’s stock, valued at approximately $280,975.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company’s stock.

Liberty Broadband Profile

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.