Mendota Financial Group LLC Trims Holdings in Liberty Broadband Co. (NASDAQ:LBRDK)

Mendota Financial Group LLC reduced its stake in Liberty Broadband Co. (NASDAQ:LBRDK) by 73.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,575 shares of the company’s stock after selling 4,400 shares during the quarter. Mendota Financial Group LLC’s holdings in Liberty Broadband were worth $118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC acquired a new stake in shares of Liberty Broadband during the 2nd quarter worth approximately $602,000. American Century Companies Inc. grew its holdings in shares of Liberty Broadband by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 29,050 shares of the company’s stock worth $1,593,000 after purchasing an additional 829 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Liberty Broadband by 50.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 39,569 shares of the company’s stock valued at $2,169,000 after buying an additional 13,320 shares during the period. Envestnet Asset Management Inc. lifted its position in Liberty Broadband by 11.9% in the second quarter. Envestnet Asset Management Inc. now owns 147,010 shares of the company’s stock valued at $8,059,000 after buying an additional 15,584 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Liberty Broadband by 19.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock valued at $113,045,000 after purchasing an additional 330,159 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Liberty Broadband in a research note on Wednesday, January 8th. They set a “sell” rating on the stock.

Insiders Place Their Bets

In other news, CEO Gregory B. Maffei sold 125,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total value of $9,967,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,435,256 shares of the company’s stock, valued at approximately $114,447,313.44. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 196,542 shares of company stock valued at $15,834,108 in the last ninety days. Insiders own 10.80% of the company’s stock.

Liberty Broadband Stock Performance

Shares of LBRDK stock opened at $74.23 on Tuesday. The firm has a 50 day moving average of $83.19 and a two-hundred day moving average of $72.54. The stock has a market capitalization of $10.60 billion, a PE ratio of 13.67 and a beta of 1.04. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $101.50.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $237.41 million. During the same period in the prior year, the business earned $1.10 EPS. On average, research analysts predict that Liberty Broadband Co. will post 6.72 EPS for the current fiscal year.

Liberty Broadband 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.