JPMorgan Chase & Co. Sells 99,910 Shares of Liberty Broadband Corporation $LBRDA

Key Points

• JPMorgan Chase & Co. cut its stake in Liberty Broadband by 87%, selling 99,910 shares in the quarter and retaining 14,983 shares worth about $949,000.
• Director J David Wargo sold 44,450 shares at an average price of $57.30 (a 69.9% decrease in his position), leaving him with 19,150 shares; insiders now own 5.7% of the company.
• LBRDA opened at $51.01 (down 2.1%), has a market cap of $7.32B and a negative P/E of -2.73, and the consensus analyst rating is Sell (Weiss Ratings reaffirmed a sell).

JPMorgan Chase & Co. decreased its position in Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 87.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,983 shares of the company's stock after selling 99,910 shares during the period. JPMorgan Chase & Co.'s holdings in Liberty Broadband were worth $949,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Yakira Capital Management Inc. lifted its stake in Liberty Broadband by 48.1% in the 3rd quarter. Yakira Capital Management Inc. now owns 94,522 shares of the company's stock valued at $5,986,000 after acquiring an additional 30,711 shares in the last quarter. Alpine Global Management LLC increased its position in shares of Liberty Broadband by 973.0% during the 3rd quarter. Alpine Global Management LLC now owns 198,268 shares of the company's stock worth $12,556,000 after purchasing an additional 179,790 shares during the last quarter. Bislett Management LLC increased its position in shares of Liberty Broadband by 17.9% during the 3rd quarter. Bislett Management LLC now owns 165,000 shares of the company's stock worth $10,449,000 after purchasing an additional 25,000 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Liberty Broadband during the 2nd quarter worth approximately $6,802,000. Finally, Gamco Investors INC. ET AL increased its position in shares of Liberty Broadband by 65.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 139,204 shares of the company's stock worth $8,816,000 after purchasing an additional 55,211 shares during the last quarter. Institutional investors own 10.29% of the company's stock.

Liberty Broadband Stock Down 2.1%

LBRDA stock opened at $51.01 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $7.32 billion, a PE ratio of -2.73 and a beta of 0.96. Liberty Broadband Corporation has a 1-year low of $42.05 and a 1-year high of $102.38. The business's 50 day simple moving average is $52.31 and its 200 day simple moving average is $51.46.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Liberty Broadband in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Insider Buying and Selling at Liberty Broadband

In related news, Director J David Wargo sold 44,450 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $57.30, for a total transaction of $2,546,985.00. Following the transaction, the director directly owned 19,150 shares of the company's stock, valued at approximately $1,097,295. The trade was a 69.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.70% of the company's stock.

About Liberty Broadband

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter's Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.

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