PNC Financial Services Group Inc. Sells 3,551 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

PNC Financial Services Group Inc. lowered its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,162 shares of the company’s stock after selling 3,551 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Liberty Broadband were worth $5,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC boosted its stake in Liberty Broadband by 6.4% during the third quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock worth $533,251,000 after buying an additional 415,496 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Liberty Broadband by 23.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,585,407 shares of the company’s stock worth $268,045,000 after buying an additional 686,089 shares in the last quarter. Geode Capital Management LLC boosted its stake in Liberty Broadband by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,014,571 shares of the company’s stock worth $155,736,000 after buying an additional 31,484 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Liberty Broadband by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 972,544 shares of the company’s stock worth $72,707,000 after buying an additional 32,376 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd boosted its stake in Liberty Broadband by 0.8% during the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 838,969 shares of the company’s stock worth $62,721,000 after buying an additional 6,841 shares in the last quarter. Institutional investors own 80.22% of the company’s stock.

Liberty Broadband Stock Down 1.1 %

Shares of NASDAQ:LBRDK opened at $80.27 on Thursday. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $101.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The company’s fifty day moving average is $79.31 and its 200-day moving average is $78.39. The company has a market capitalization of $11.50 billion, a PE ratio of 14.78 and a beta of 1.06.

Liberty Broadband (NASDAQ:LBRDK) last issued its earnings results on Thursday, February 27th. The company reported $2.04 EPS for the quarter, missing the consensus estimate of $3.67 by ($1.63). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The firm had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.50 million. Equities research analysts predict that Liberty Broadband Co. will post 7.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gregory B. Maffei sold 71,500 shares of Liberty Broadband stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $82.00, for a total value of $5,863,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at $231,815,066. The trade was a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Liberty Broadband in a research note on Thursday. They set 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.