Liberty Broadband Co. (NASDAQ:LBRDK) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 45.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,764 shares of the company’s stock after selling 3,945 shares during the period. Illinois Municipal Retirement Fund’s holdings in Liberty Broadband were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LBRDK. Assenagon Asset Management S.A. raised its holdings in Liberty Broadband by 179.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,334,499 shares of the company’s stock valued at $107,547,000 after acquiring an additional 857,187 shares during the last quarter. Northern Trust Corp raised its holdings in Liberty Broadband by 4.2% in the 3rd quarter. Northern Trust Corp now owns 875,562 shares of the company’s stock valued at $79,956,000 after acquiring an additional 35,370 shares during the last quarter. Royal Bank of Canada raised its holdings in Liberty Broadband by 10.0% in the 3rd quarter. Royal Bank of Canada now owns 629,539 shares of the company’s stock valued at $57,490,000 after acquiring an additional 57,454 shares during the last quarter. Barclays PLC raised its holdings in Liberty Broadband by 315.0% in the 3rd quarter. Barclays PLC now owns 2,675,919 shares of the company’s stock valued at $244,364,000 after acquiring an additional 2,031,168 shares during the last quarter. Finally, Korea Investment CORP raised its holdings in Liberty Broadband by 10.1% in the 3rd quarter. Korea Investment CORP now owns 155,682 shares of the company’s stock valued at $14,217,000 after acquiring an additional 14,278 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Stock Performance

Liberty Broadband stock opened at $50.92 on Thursday. The firm has a 50 day simple moving average of $54.63 and a 200-day simple moving average of $70.02. Liberty Broadband Co. has a 1-year low of $46.46 and a 1-year high of $95.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.42 and a quick ratio of 2.42. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 10.90 and a beta of 0.95.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Friday, February 16th. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($1.23). The firm had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $227.82 million. Liberty Broadband had a net margin of 70.13% and a return on equity of 7.76%. On average, analysts expect that Liberty Broadband Co. will post 10.14 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price target on shares of Liberty Broadband from $108.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, February 7th.

Insider Buying and Selling

In related news, Director J David Wargo sold 9,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $56.80, for a total transaction of $511,200.00. Following the completion of the transaction, the director now owns 97,332 shares of the company’s stock, valued at approximately $5,528,457.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 45,000 shares of company stock valued at $2,435,830. Company insiders own 10.80% of the company’s 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.