Gregory B. Maffei, President and CEO of Liberty Broadband Corp (NASDAQ:), a $10.94 billion market cap company trading at a P/E of 14.2, recently conducted a series of stock sales involving approximately 12.8 million dollars. The transactions, reported on December 19, 2024, included the sale of Series C Common Stock over two days, on December 18 and 19. InvestingPro data, the company maintains a GOOD financial health score, with liquid assets exceeding short-term obligations.
Maffei sold 137,733 shares, with sales prices ranging from $77.3265 to $80.91 per share. Following this transaction, Maffei holds 1,398,523 shares directly. In addition, he retains indirect ownership of 274,990 shares through the Maven 2016 – 1 GRAT and 137,683 shares through the Maven 2017 – 1 GRAT, which are in trust 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 shows that the stock is currently undervalued. Subscribers have access to 6 additional ProTips and comprehensive valuation metrics in the Pro Research Report.
In other recent news, Liberty Broadband Corporation has been involved in several important developments. Deutsche Bank (ETR:) analyst Bryan Kraft downgraded shares of Liberty Broadband from Buy to Hold, although he raised his price target to $95 from $90. This decision follows a definitive merger agreement between Liberty Broadband and Covenant Communication (NASDAQ:), and the recent rise in Charter's stock price.
Liberty Broadband's financial health remains strong, with $168 million in cash and $18.6 billion in equity investments. Subsidiaries such as GCI and TripAdvisor (NASDAQ:) showed promising trends, with the former seeing an increase in revenue in Q3 and the growth of the last report in active users of the month.
Liberty Broadband is currently in discussions with Charter Communications regarding a proposed joint-stock agreement aimed at achieving business structures. Despite experiencing losses in the broadband segment, Charter Communications reported growth in revenue and adjusted EBITDA. The closing date for the Charter deal is set for mid-2027, subject to regulatory approvals and Liberty Broadband's downsizing efforts. This is a recent development that continues to shape the future of the company.
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