Liberty Broadband Corporation $LBRDK Shares Sold by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC cut its stake in Liberty Broadband by 90.8% in Q4, selling 68,165 shares and leaving 6,918 shares valued at about $336,000.
• Insider sale: Director J. David Wargo sold 44,450 shares on Feb. 10 at an average $57.30 for roughly $2.547 million, reducing his ownership by 69.89% to 19,150 shares; insiders own 10.8% of the company.
• Market view and price: Wall Street's consensus rating is a "Sell," and the stock opened at $36.96 with a 12‑month range of $36.60–$104, a market cap of $5.3B and a negative P/E of -1.93.

Wealthfront Advisers LLC decreased its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 90.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,918 shares of the company's stock after selling 68,165 shares during the period. Wealthfront Advisers LLC's holdings in Liberty Broadband were worth $336,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. eCIO Inc. acquired a new stake in shares of Liberty Broadband during the fourth quarter worth approximately $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Liberty Broadband during the third quarter worth approximately $42,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Liberty Broadband by 59.3% during the second quarter. EverSource Wealth Advisors LLC now owns 733 shares of the company's stock worth $72,000 after purchasing an additional 273 shares during the period. Mather Group LLC. acquired a new stake in shares of Liberty Broadband during the third quarter worth approximately $47,000. Finally, Danske Bank A S acquired a new stake in shares of Liberty Broadband during the third quarter worth approximately $51,000. 80.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director J David Wargo sold 44,450 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $57.30, for a total transaction of $2,546,985.00. Following the transaction, the director owned 19,150 shares of the company's stock, valued at approximately $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Liberty Broadband Price Performance

Shares of LBRDK opened at $36.96 on Wednesday. The firm has a market cap of $5.30 billion, a PE ratio of -1.93 and a beta of 0.70. The firm's 50 day moving average price is $50.71 and its 200 day moving average price is $50.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. Liberty Broadband Corporation has a twelve month low of $36.60 and a twelve month high of $104.00.

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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