Cheviot Value Management LLC Decreases Holdings in Liberty Broadband Corporation $LBRDK

Key Points

• Cheviot Value Management cut its Liberty Broadband stake by 32.7% in the fourth quarter, selling 37,754 shares and leaving it with 77,726 shares valued at about $3.78 million.
• An insider sale also stood out: director J. David Wargo sold 44,450 shares on February 10 for roughly $2.55 million, reducing his ownership by nearly 70%.
• Liberty Broadband (NASDAQ:LBRDK) is trading near its 1-year low at $36.10, and Wall Street’s consensus rating remains Sell amid recent bearish analyst calls.

Cheviot Value Management LLC trimmed its position in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,726 shares of the company's stock after selling 37,754 shares during the period. Cheviot Value Management LLC owned approximately 0.05% of Liberty Broadband worth $3,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Liberty Broadband by 4.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,092 shares of the company's stock valued at $348,000 after purchasing an additional 174 shares during the last quarter. Mariner LLC grew its stake in Liberty Broadband by 3.4% during the 3rd quarter. Mariner LLC now owns 6,958 shares of the company's stock worth $442,000 after buying an additional 226 shares during the last quarter. Captrust Financial Advisors increased its position in Liberty Broadband by 4.6% during the 2nd quarter. Captrust Financial Advisors now owns 5,376 shares of the company's stock valued at $529,000 after buying an additional 237 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Liberty Broadband by 0.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 35,369 shares of the company's stock valued at $2,247,000 after buying an additional 239 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Liberty Broadband by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 52,296 shares of the company's stock valued at $5,145,000 after buying an additional 258 shares during the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Liberty Broadband

In other news, Director J David Wargo sold 44,450 shares of the firm's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $57.30, for a total value of $2,546,985.00. Following the completion of the transaction, the director directly owned 19,150 shares in the company, valued at $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 10.80% of the company's stock.

Liberty Broadband Price Performance

Shares of LBRDK opened at $36.10 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.09. The company's fifty day moving average price is $50.05 and its 200-day moving average price is $49.70. Liberty Broadband Corporation has a 1-year low of $36.08 and a 1-year high of $104.00. The firm has a market capitalization of $5.18 billion, a PE ratio of -1.88 and a beta of 0.70.

Wall Street Analyst Weigh In

LBRDK has been the subject of several recent analyst reports. Wall Street Zen raised Liberty Broadband from a "strong sell" rating to a "sell" rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Liberty Broadband in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of "Sell".

About Liberty Broadband

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company's primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.

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