Liberty Broadband Corporation (LBRDA) Shares Down 8.3% After Insider Selling

Liberty Broadband Corporation (NASDAQ:LBRDA) traded down 8.3% during trading on Thursday following insider selling activity. The stock traded as low as $81.74 and last traded at $82.24. 526,894 shares traded hands during trading, an increase of 243% from the average session volume of 153,562 shares. The stock had previously closed at $89.69.

Specifically, Director John C. Malone sold 34,500 shares of Liberty Broadband Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $99.19, for a total transaction of $3,422,055.00. Following the transaction, the director now directly owns 3,781,531 shares of the company’s stock, valued at $375,090,059.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John C. Malone sold 11,400 shares of Liberty Broadband Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $101.98, for a total transaction of $1,162,572.00. Following the transaction, the director now directly owns 3,748,054 shares in the company, valued at $382,226,546.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 527,775 shares of company stock worth $52,141,476. 6.09% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on the stock. Pivotal Research reaffirmed a “buy” rating and issued a $108.00 price target (up from $107.00) on shares of Liberty Broadband Corporation in a report on Tuesday, August 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $125.00 price target (up from $95.00) on shares of Liberty Broadband Corporation in a report on Thursday, September 7th. TheStreet lowered shares of Liberty Broadband Corporation from a “b” rating to a “c+” rating in a report on Wednesday, August 16th. Finally, BidaskClub raised shares of Liberty Broadband Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $111.67.

The firm has a market capitalization of $14.95 billion, a P/E ratio of 483.76 and a beta of 1.43. The stock’s 50-day moving average price is $95.11 and its 200-day moving average price is $91.34.

Large investors have recently modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in shares of Liberty Broadband Corporation by 0.8% in the second quarter. D.A. Davidson & CO. now owns 1,604 shares of the company’s stock valued at $137,000 after acquiring an additional 13 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Liberty Broadband Corporation in the second quarter valued at about $213,000. KCG Holdings Inc. purchased a new stake in shares of Liberty Broadband Corporation in the first quarter valued at about $246,000. Janney Montgomery Scott LLC boosted its holdings in shares of Liberty Broadband Corporation by 5.9% in the second quarter. Janney Montgomery Scott LLC now owns 2,999 shares of the company’s stock valued at $257,000 after acquiring an additional 166 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Liberty Broadband Corporation in the first quarter valued at about $294,000. 11.85% of the stock is currently owned by institutional investors and hedge funds.

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Liberty Broadband Corporation Company Profile

Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook). The Company’s segments include Skyhook, Charter, and Corporate and other. Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.

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