Ruane Cunniff & Goldfarb L.P. cut its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK – Free Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,841,624 shares of the company’s stock after selling 32,613 shares during the quarter. Liberty Broadband accounts for approximately 1.4% of Ruane Cunniff & Goldfarb L.P.’s investment portfolio, making the stock its 17th largest position. Ruane Cunniff & Goldfarb L.P. owned 1.28% of Liberty Broadband worth $89,503,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Liberty Broadband by 1.7% in the third quarter. Vanguard Group Inc. now owns 11,162,599 shares of the company’s stock valued at $709,272,000 after purchasing an additional 184,623 shares in the last quarter. Norges Bank purchased a new position in shares of Liberty Broadband in the fourth quarter valued at $180,881,000. Dimensional Fund Advisors LP grew its holdings in shares of Liberty Broadband by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,943,136 shares of the company’s stock valued at $187,006,000 after purchasing an additional 171,378 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Liberty Broadband by 58.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,793,954 shares of the company’s stock valued at $135,786,000 after purchasing an additional 1,035,126 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Liberty Broadband by 493.1% in the third quarter. JPMorgan Chase & Co. now owns 2,270,557 shares of the company’s stock valued at $144,271,000 after purchasing an additional 1,887,742 shares in the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.
Liberty Broadband Trading Up 4.8%
Shares of NASDAQ LBRDK opened at $34.19 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $4.91 billion, a P/E ratio of -1.78 and a beta of 0.66. Liberty Broadband Corporation has a 1-year low of $29.66 and a 1-year high of $101.46. The business has a fifty day moving average price of $40.51 and a 200 day moving average price of $46.39.
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About Liberty Broadband
Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.
The company’s primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.
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