Principal Financial Group Inc. decreased its position in Liberty Broadband Co. (NASDAQ:LBRDK – Free Report) by 19.9% during the 1st quarter, Holdings Channel reports. The firm owned 287,858 shares of the company’s stock after selling 71,604 shares during the quarter. Principal Financial Group Inc.’s holdings in Liberty Broadband were worth $23,518,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Liberty Broadband by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 3,757,711 shares of the company’s stock worth $286,601,000 after buying an additional 464,072 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Liberty Broadband by 0.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 53,784 shares of the company’s stock worth $4,394,000 after buying an additional 310 shares in the last quarter. Barclays PLC lifted its position in Liberty Broadband by 14.3% during the 1st quarter. Barclays PLC now owns 733,953 shares of the company’s stock worth $59,964,000 after buying an additional 91,690 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Liberty Broadband by 8.3% during the 4th quarter. Teacher Retirement System of Texas now owns 105,505 shares of the company’s stock worth $8,047,000 after buying an additional 8,060 shares in the last quarter. Finally, Wittenberg Investment Management Inc. lifted its position in Liberty Broadband by 12.6% during the 4th quarter. Wittenberg Investment Management Inc. now owns 48,094 shares of the company’s stock worth $3,668,000 after buying an additional 5,386 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Pivotal Research reduced their price target on shares of Liberty Broadband from $138.00 to $129.00 in a research report on Monday, August 7th. Morgan Stanley upped their target price on shares of Liberty Broadband from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. Finally, StockNews.com assumed coverage on shares of Liberty Broadband in a research report on Thursday, August 17th. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $129.20.
Liberty Broadband Stock Performance
Liberty Broadband stock opened at $87.69 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.43. Liberty Broadband Co. has a 1 year low of $68.67 and a 1 year high of $111.19. The company has a market cap of $12.82 billion, a PE ratio of 15.97 and a beta of 1.14. The company’s 50-day moving average is $84.32 and its two-hundred day moving average is $82.17.
Insider Buying and Selling at Liberty Broadband
In other Liberty Broadband news, CEO Gregory B. Maffei sold 1,135 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $92.02, for a total transaction of $104,442.70. Following the transaction, the chief executive officer now directly owns 1,119,131 shares in the company, valued at approximately $102,982,434.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.80% 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.
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