Edgestream Partners L.P. Purchases New Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Edgestream Partners L.P. acquired a new stake in Liberty Broadband Co. (NASDAQ:LBRDK) in the third quarter, according to its most recent filing with the SEC. The fund acquired 5,944 shares of the company’s stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LBRDK. Captrust Financial Advisors grew its holdings in Liberty Broadband by 15.3% during the 3rd quarter. Captrust Financial Advisors now owns 4,417 shares of the company’s stock valued at $341,000 after buying an additional 586 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Liberty Broadband in the third quarter valued at approximately $224,000. Walleye Capital LLC purchased a new position in Liberty Broadband during the third quarter valued at approximately $2,253,000. Baupost Group LLC MA bought a new stake in Liberty Broadband during the 3rd quarter worth approximately $13,186,000. Finally, Glenmede Trust Co. NA lifted its stake in Liberty Broadband by 21.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 30,989 shares of the company’s stock worth $2,395,000 after purchasing an additional 5,386 shares in the last quarter. Institutional investors own 80.22% of the company’s stock.

Insider Buying and Selling at Liberty Broadband

In other Liberty Broadband news, insider Renee L. Wilm sold 4,423 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total value of $338,624.88. Following the completion of the transaction, the insider now owns 3,670 shares in the company, valued at approximately $280,975.20. This represents a 54.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief accounting officer now owns 11,054 shares in the company, valued at approximately $838,335.36. This trade represents a 16.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,673 shares of company stock valued at $509,688. 10.80% of the stock is currently owned by company insiders.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock opened at $86.48 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. Liberty Broadband Co. has a one year low of $46.46 and a one year high of $101.50. The business’s 50 day simple moving average is $84.64 and its two-hundred day simple moving average is $67.39. The stock has a market capitalization of $12.35 billion, a P/E ratio of 15.93 and a beta of 1.02.

Liberty Broadband (NASDAQ:LBRDK) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($1.69). The firm had revenue of $262.00 million during the quarter, compared to analysts’ expectations of $237.41 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter in the previous year, the firm posted $1.10 EPS. Analysts forecast that Liberty Broadband Co. will post 6.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Rosenblatt Securities raised their price target on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com initiated coverage on shares of Liberty Broadband in a research note on Friday, November 29th. They issued a “sell” rating on the stock.

About Liberty Broadband

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.