Liberty Broadband Corp. (LBRDA) Director John C. Malone Sells 30,888 Shares of Stock
Liberty Broadband Corp. (NASDAQ:LBRDA) Director John C. Malone sold 30,888 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $70.51, for a total transaction of $2,177,912.88. Following the completion of the transaction, the director now owns 3,882,054 shares of the company’s stock, valued at approximately $273,723,627.54. The sale was disclosed in a filing with the SEC, which is available at this link.
Liberty Broadband Corp. (NASDAQ:LBRDA) opened at 68.62 on Tuesday. Liberty Broadband Corp. has a 12 month low of $42.03 and a 12 month high of $71.77. The firm’s 50-day moving average is $66.51 and its 200-day moving average is $64.39. The stock has a market cap of $12.47 billion, a P/E ratio of 10.84 and a beta of 1.43.
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Several research analysts have recently issued reports on LBRDA shares. Zacks Investment Research cut shares of Liberty Broadband Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 22nd. Deutsche Bank AG upped their price target on shares of Liberty Broadband Corp. from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 12th. TheStreet upgraded shares of Liberty Broadband Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, November 3rd. Finally, Pivotal Research reiterated a “buy” rating and issued a $94.00 price target on shares of Liberty Broadband Corp. in a research report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Liberty Broadband Corp. presently has a consensus rating of “Buy” and an average target price of $77.00.
Hedge funds have recently bought and sold shares of the stock. Cutler Group LP raised its stake in Liberty Broadband Corp. by 19.8% in the third quarter. Cutler Group LP now owns 2,537 shares of the company’s stock worth $177,000 after buying an additional 420 shares in the last quarter. D.A. Davidson & CO. raised its stake in Liberty Broadband Corp. by 2.3% in the third quarter. D.A. Davidson & CO. now owns 2,796 shares of the company’s stock worth $195,000 after buying an additional 63 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Liberty Broadband Corp. by 37.1% in the second quarter. Panagora Asset Management Inc. now owns 3,328 shares of the company’s stock worth $198,000 after buying an additional 900 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Liberty Broadband Corp. during the third quarter worth about $205,000. Finally, Shufro Rose & Co. LLC purchased a new stake in Liberty Broadband Corp. during the third quarter worth about $211,000. Institutional investors own 79.78% of the company’s stock.
About Liberty Broadband Corp.
Liberty Broadband Corporation holds interests in Charter Communications, Inc (Charter), TruePosition, Inc (TruePosition) and Time Warner Cable, Inc (TWC). The Company’s segments include Trueposition, Charter, and Corporate and other. The TruePosition segment includes the operations of TruePosition, a subsidiary of the Company that develops and markets technology for locating wireless phones and other wireless devices on a cellular network, enabling wireless carriers and government agencies to provide public safety E-9-1-1 services domestically and services in support of national security and law enforcement across the world.
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