Gregory B. Maffei, the President and CEO of Liberty Broadband Corp (NASDAQ:LBRDA), a $10.94 billion market cap company trading at a P/E of 14.2, recently executed a series of stock sales totaling approximately $12.8 million. The transactions, reported on December 19, 2024, involved the sale of Series C Common Stock over two days, December 18 and 19. According to InvestingPro data, the company maintains a GOOD financial health score, with liquid assets exceeding short-term obligations.
Maffei sold a total of 137,733 shares, with sale prices ranging from $77.3265 to $80.91 per share. Following these transactions, Maffei holds 1,398,523 shares directly. Additionally, he maintains indirect ownership of 274,990 shares through the Maven 2016 - 1 GRAT and 137,683 shares through the Maven 2017 - 1 GRAT, which are trusts for the benefit of himself and his family. The stock has shown strong momentum with a 50.77% return over the past six months, and InvestingPro analysis suggests the stock is currently undervalued. Subscribers can access 6 additional ProTips and comprehensive valuation metrics in the Pro Research Report.
In other recent news, Liberty Broadband Corporation has been involved in several significant developments. Deutsche Bank (ETR:DBKGn) analyst Bryan Kraft has downgraded Liberty Broadband shares from Buy to Hold, despite raising the price target to $95 from $90. This decision follows a definitive merger agreement between Liberty Broadband and Charter Communications (NASDAQ:CHTR), and a recent increase in Charter's stock price.
Liberty Broadband's financial health remains robust, with a cash position of $168 million and its Charter investment valued at $18.6 billion. Subsidiaries like GCI and TripAdvisor (NASDAQ:TRIP) have shown promising trends, with the former seeing a revenue increase in Q3 and the latter reporting growth in monthly active users.
Liberty Broadband is currently in talks with Charter Communications for a proposed all-stock deal aimed at streamlining corporate structures. Despite experiencing a net loss in the broadband sector, Charter Communications reported growth in both revenue and adjusted EBITDA. The timeline for closing the Charter deal is set for mid-2027, considering regulatory approvals and Liberty Broadband's deleveraging efforts. These are recent developments that continue to shape the company's future.
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