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Liberty Broadband CEO Gregory Maffei sells $12.8 million in stock

Published 20/12/2024, 11:52 am
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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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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