Insider Selling: Liberty Broadband Co. (NASDAQ:LBRDK) CEO Sells 125,000 Shares of Stock

Liberty Broadband Co. (NASDAQ:LBRDK) CEO Gregory B. Maffei sold 125,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,435,256 shares of the company’s stock, valued at approximately $114,447,313.44. This represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock traded down $0.38 during trading on Thursday, hitting $77.42. 674,255 shares of the company’s stock were exchanged, compared to its average volume of 1,191,348. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 14.26 and a beta of 1.02. The business has a 50-day simple moving average of $85.16 and a 200-day simple moving average of $69.40. 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.

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

Institutional Investors Weigh In On Liberty Broadband

Several hedge funds have recently bought and sold shares of LBRDK. Barclays PLC lifted its stake in shares of Liberty Broadband by 6.4% in the 3rd quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock valued at $533,251,000 after purchasing an additional 415,496 shares during the period. Hi Line Capital Management LLC raised its position in shares of Liberty Broadband by 498.4% in the third quarter. Hi Line Capital Management LLC now owns 141,056 shares of the company’s stock worth $10,902,000 after acquiring an additional 117,483 shares during the period. Bank of Montreal Can boosted its stake in shares of Liberty Broadband by 172.6% during the 2nd quarter. Bank of Montreal Can now owns 258,212 shares of the company’s stock worth $14,173,000 after acquiring an additional 163,502 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Liberty Broadband during the 3rd quarter valued at about $861,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Liberty Broadband in the 2nd quarter valued at about $602,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Liberty Broadband in a report on Sunday. They issued a “sell” rating on the stock.

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.