Liberty Broadband (NASDAQ:LBRDK) Releases Quarterly Earnings Results, Beats Estimates By $0.57 EPS

Liberty Broadband (NASDAQ:LBRDK) posted its quarterly earnings results on Wednesday. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.20 by $0.57, Zacks reports. Liberty Broadband had a net margin of 105.04% and a return on equity of 12.23%. The business had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $267.70 million.

Liberty Broadband Stock Up 1.0%

Shares of NASDAQ:LBRDK traded up $0.52 on Friday, reaching $50.73. The company had a trading volume of 789,679 shares, compared to its average volume of 1,040,479. The stock has a market capitalization of $7.28 billion, a P/E ratio of 9.19 and a beta of 1.01. The stock has a 50-day moving average price of $59.21 and a 200 day moving average price of $75.64. Liberty Broadband has a twelve month low of $49.31 and a twelve month high of $104.00. The company has a quick ratio of 0.60, a current ratio of 0.24 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Liberty Broadband

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBRDK. Man Group plc raised its position in shares of Liberty Broadband by 92.9% in the second quarter. Man Group plc now owns 957,253 shares of the company’s stock valued at $94,175,000 after purchasing an additional 460,920 shares during the period. Whitebox Advisors LLC raised its holdings in Liberty Broadband by 38.7% in the 2nd quarter. Whitebox Advisors LLC now owns 1,384,608 shares of the company’s stock worth $136,218,000 after acquiring an additional 385,993 shares during the period. Goldman Sachs Group Inc. lifted its position in Liberty Broadband by 94.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 778,238 shares of the company’s stock worth $66,189,000 after acquiring an additional 377,602 shares during the last quarter. Bank of America Corp DE boosted its holdings in Liberty Broadband by 6.5% during the second quarter. Bank of America Corp DE now owns 1,404,980 shares of the company’s stock valued at $138,222,000 after acquiring an additional 86,236 shares during the period. Finally, P Schoenfeld Asset Management LP grew its position in shares of Liberty Broadband by 103.9% in the second quarter. P Schoenfeld Asset Management LP now owns 63,200 shares of the company’s stock valued at $6,218,000 after purchasing an additional 32,200 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LBRDK. Weiss Ratings reissued a “hold (c-)” rating on shares of Liberty Broadband in a research report on Friday, October 31st. Wall Street Zen upgraded Liberty Broadband to a “hold” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Liberty Broadband presently has a consensus rating of “Hold”.

About Liberty Broadband

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.