Liberty Broadband Co. (NASDAQ:LBRDK) is Whitebox Advisors LLC’s Largest Position

Whitebox Advisors LLC lowered its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 25.3% during the third quarter, HoldingsChannel reports. The fund owned 2,224,438 shares of the company’s stock after selling 753,669 shares during the period. Liberty Broadband accounts for about 4.7% of Whitebox Advisors LLC’s investment portfolio, making the stock its biggest holding. Whitebox Advisors LLC’s holdings in Liberty Broadband were worth $171,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hi Line Capital Management LLC grew its holdings in shares of Liberty Broadband by 498.4% during the third quarter. Hi Line Capital Management LLC now owns 141,056 shares of the company’s stock worth $10,902,000 after purchasing an additional 117,483 shares during the last quarter. Bank of Montreal Can increased its position in Liberty Broadband by 172.6% during the second quarter. Bank of Montreal Can now owns 258,212 shares of the company’s stock worth $14,173,000 after buying an additional 163,502 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Liberty Broadband in the third quarter valued at approximately $861,000. Commonwealth Equity Services LLC purchased a new position in shares of Liberty Broadband during the second quarter worth approximately $602,000. Finally, Logan Stone Capital LLC grew its position in shares of Liberty Broadband by 1,134.1% during the second quarter. Logan Stone Capital LLC now owns 126,443 shares of the company’s stock worth $6,932,000 after acquiring an additional 116,197 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com began coverage on shares of Liberty Broadband in a research note on Friday, November 29th. They set a “sell” rating for the company. Rosenblatt Securities boosted their price target on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th.

Liberty Broadband Stock Performance

NASDAQ:LBRDK opened at $86.48 on Friday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 15.93 and a beta of 1.02. 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 1-year low of $46.46 and a 1-year high of $101.50. The firm’s fifty day moving average price is $84.64 and its 200 day moving average price is $67.39.

Liberty Broadband (NASDAQ:LBRDK) last issued its quarterly earnings results 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). 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 for the quarter, compared to analyst estimates of $237.41 million. During the same quarter last year, the firm earned $1.10 earnings per share. On average, sell-side analysts expect that Liberty Broadband Co. will post 6.72 EPS for the current year.

Insider Transactions at Liberty Broadband

In related news, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 3,670 shares in the company, valued at $280,975.20. This represents a 54.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total value 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. The trade was a 16.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,673 shares of company stock valued at $509,688. 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.