Verition Fund Management LLC Invests $6.40 Million in Liberty Broadband Co. (NASDAQ:LBRDA)

Verition Fund Management LLC bought a new stake in shares of Liberty Broadband Co. (NASDAQ:LBRDA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 83,344 shares of the company’s stock, valued at approximately $6,402,000. Verition Fund Management LLC owned approximately 0.06% of Liberty Broadband at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LBRDA. American National Bank & Trust purchased a new stake in shares of Liberty Broadband during the third quarter valued at $32,000. GAMMA Investing LLC increased its holdings in shares of Liberty Broadband by 161.8% in the third quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock valued at $48,000 after purchasing an additional 390 shares during the period. CWM LLC lifted its holdings in shares of Liberty Broadband by 112.6% during the second quarter. CWM LLC now owns 1,352 shares of the company’s stock worth $74,000 after purchasing an additional 716 shares during the period. Glenmede Trust Co. NA boosted its position in Liberty Broadband by 116.6% in the third quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock valued at $76,000 after buying an additional 533 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Liberty Broadband in the 3rd quarter worth approximately $79,000. Institutional investors and hedge funds own 10.29% of the company’s stock.

Insider Buying and Selling at Liberty Broadband

In other news, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction dated 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 owns 11,054 shares of the company’s stock, valued at $838,335.36. The trade was a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total transaction of $338,624.88. Following the transaction, the insider now owns 3,670 shares of the company’s stock, valued at approximately $280,975.20. This trade represents a 54.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,673 shares of company stock valued at $509,688. Company insiders own 14.19% of the company’s stock.

Liberty Broadband Price Performance

NASDAQ:LBRDA opened at $84.67 on Monday. The company has a 50 day moving average price of $82.96 and a 200-day moving average price of $66.12. Liberty Broadband Co. has a 1-year low of $47.17 and a 1-year high of $100.44. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 15.59 and a beta of 1.04. 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 (NASDAQ:LBRDA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The firm had revenue of $262.00 million during the quarter, compared to analyst estimates of $242.40 million. During the same quarter last year, the company posted $1.10 EPS.

Analyst Upgrades and Downgrades

LBRDA has been the subject of several research reports. Rosenblatt Securities cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $91.00 to $92.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 target price (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th.

Liberty Broadband Company 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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.