abrdn plc Acquires 20,257 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

abrdn plc increased its stake in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 101.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,221 shares of the company's stock after acquiring an additional 20,257 shares during the quarter. abrdn plc's holdings in Liberty Broadband were worth $3,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Liberty Broadband during the 3rd quarter valued at $26,000. Milestone Investment Advisors LLC bought a new stake in Liberty Broadband during the 3rd quarter valued at $57,000. CoreFirst Bank & Trust purchased a new position in Liberty Broadband during the 3rd quarter worth $100,000. Ulland Investment Advisors LLC boosted its holdings in Liberty Broadband by 34.6% during the 4th quarter. Ulland Investment Advisors LLC now owns 1,810 shares of the company's stock worth $146,000 after acquiring an additional 465 shares during the last quarter. Finally, Wahed Invest LLC boosted its holdings in Liberty Broadband by 9.4% during the 3rd quarter. Wahed Invest LLC now owns 1,835 shares of the company's stock worth $168,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 80.22% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup cut their price objective on shares of Liberty Broadband from $108.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, February 7th.

Liberty Broadband Stock Performance

NASDAQ LBRDK traded up $1.12 during trading on Monday, hitting $50.37. 1,192,916 shares of the company's stock traded hands, compared to its average volume of 1,287,668. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 10.79 and a beta of 0.96. Liberty Broadband Co. has a 12-month low of $46.46 and a 12-month high of $95.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.42 and a current ratio of 2.42. The business has a 50 day moving average of $55.03 and a 200-day moving average of $70.45.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its quarterly earnings results on Friday, February 16th. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($1.23). Liberty Broadband had a net margin of 70.13% and a return on equity of 7.76%. The company had revenue of $250.00 million for the quarter, compared to the consensus estimate of $227.82 million. As a group, equities research analysts anticipate that Liberty Broadband Co. will post 10.14 earnings per share for the current fiscal year.

Insider Activity

In related news, Director J David Wargo sold 9,000 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $56.80, for a total value of $511,200.00. Following the transaction, the director now directly owns 97,332 shares in the company, valued at $5,528,457.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 45,000 shares of company stock worth $2,435,830 over the last ninety days. Company insiders own 10.80% of the company's stock.

Liberty Broadband Company 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.