Ruane Cunniff & Goldfarb L.P. Cuts Stock Holdings in Liberty Broadband Co. (NASDAQ:LBRDA)

Ruane Cunniff & Goldfarb L.P. decreased its position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 709,767 shares of the company’s stock after selling 13,415 shares during the quarter. Liberty Broadband accounts for 0.9% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 19th largest position. Ruane Cunniff & Goldfarb L.P. owned about 0.50% of Liberty Broadband worth $54,524,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in Liberty Broadband by 9.1% in the third quarter. Signaturefd LLC now owns 2,119 shares of the company’s stock worth $163,000 after purchasing an additional 177 shares during the last quarter. Bfsg LLC boosted its holdings in Liberty Broadband by 11.1% in the second quarter. Bfsg LLC now owns 3,340 shares of the company’s stock worth $182,000 after purchasing an additional 335 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Liberty Broadband by 161.8% in the third quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock worth $48,000 after purchasing an additional 390 shares during the last quarter. American National Bank & Trust purchased a new stake in Liberty Broadband in the third quarter worth approximately $32,000. Finally, Glenmede Trust Co. NA boosted its holdings in Liberty Broadband by 116.6% in the third quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock worth $76,000 after purchasing an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Liberty Broadband Trading Down 1.0 %

Shares of Liberty Broadband stock opened at $83.92 on Thursday. The company’s fifty day simple moving average is $81.96 and its 200-day simple moving average is $65.60. The stock has a market capitalization of $11.99 billion, a PE ratio of 15.45 and a beta of 1.04. Liberty Broadband Co. has a 1-year low of $47.17 and a 1-year high of $100.44. 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 results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.66). The business had revenue of $262.00 million for the quarter, compared to analysts’ expectations of $242.40 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. During the same quarter in the prior year, the business earned $1.10 EPS.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and raised their target price for the stock from $91.00 to $92.00 in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $95.00 price target (up previously from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th.

Insider Activity

In other news, CAO Brian J. Wendling sold 2,208 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the sale, the chief accounting officer now directly owns 11,054 shares in the company, valued at $838,335.36. This trade represents a 16.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Renee L. Wilm sold 4,423 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total transaction of $338,624.88. Following the sale, the insider now owns 3,670 shares in the company, valued at $280,975.20. The trade was a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,673 shares of company stock worth $509,688 in the last three months. Company insiders own 14.19% of the company’s 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. 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.