Liberty Broadband Corporation (NASDAQ:LBRDA) Experiences Heavier than Usual Trading Volume

Alain Brian
Août 12, 2017

First Manhattan Co downsized its ownership by selling 2,624 shares a decrease of 2.6% in the quarter.

Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook).

A number of other large investors have also added to or reduced their stakes in the stock. Insiders have sold 96,700 shares of company stock worth $8,521,624 in the last quarter. Blackrock Inc. owns 20,771 shares with a value of $1,782,000. Next quarter's EPS is estimated at $0.02 with next year's EPS projected to be $0.88. Following the completion of the transaction, the director now owns 3,781,531 shares of the company's stock, valued at $375,090,059.89. Pacer Advisors Inc. boosted its position in shares of Liberty Broadband Corporation by 3.2% in the first quarter. California Public Employees Retirement System now owns 251,400 shares valued at $21,809,000. Mad River Investors boosted its position in Liberty Broadband Corporation by 1.9% in the first quarter. That brings the Director's holdings to $20,634,112 as recorded in a recent Form 4 SEC filing. US Bancorp DE boosted its stake in shares of Liberty Broadband Corporation by 5.1% in the first quarter. Russell Investments Group Ltd. now owns 49,933 shares of the company's stock worth $4,314,000 after buying an additional 32,623 shares during the period.

Trading volume for Liberty Broadband Corporation was 275K by the end of trading on Friday. The company had a trading volume of 199,274 shares.

Shares of the company are trading at $101.65 which is significantly higher than $90.19, the stock's 50 day moving average and quite a bit higher than the 200 day moving average of $86.50. Liberty Broadband Corporation has a 52-week low of $63.64 and a 52-week high of $103.33. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 18.53 and a beta of 1.40.

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Several brokerages recently weighed in on LBRDA. BidaskClub upgraded Liberty Broadband Corp from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded Liberty Broadband Corporation from a "sell" rating to a "hold" rating in a research report on Friday, April 14th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. The stock was sold at an average price of $88.62, for a total value of $505,134.00.

In other news, Director John C. Malone sold 23,000 shares of the stock in a transaction dated Wednesday, July 5th. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Accern also assigned media stories about the company an impact score of 45.5941769612411 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company's share price in the near future. Following the completion of the sale, the director now owns 3,782,554 shares in the company, valued at approximately $340,770,289.86. The disclosure for this sale can be found here. Insiders own 10.80% of the company's stock.

Oppenheimer Asset Management Inc. acquired a new stake in Liberty Broadband Corporation during the first quarter worth about $186,000.

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