Edgestream Partners L.P. acquired a new stake in Liberty Broadband Corporation (NASDAQ:LBRDK – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 134,725 shares of the company’s stock, valued at approximately $6,777,000.
Several other hedge funds have also recently added to or reduced their stakes in LBRDK. Norges Bank acquired a new position in Liberty Broadband during the fourth quarter worth about $180,881,000. UBS Group AG grew its position in shares of Liberty Broadband by 301.3% in the fourth quarter. UBS Group AG now owns 1,505,070 shares of the company’s stock valued at $73,146,000 after purchasing an additional 1,130,044 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Liberty Broadband in the third quarter valued at approximately $52,032,000. Marshall Wace LLP grew its position in shares of Liberty Broadband by 475.3% in the third quarter. Marshall Wace LLP now owns 942,375 shares of the company’s stock valued at $59,879,000 after purchasing an additional 778,580 shares during the last quarter. Finally, Greenstone Partners & Co. LLC purchased a new position in shares of Liberty Broadband during the 4th quarter worth approximately $37,501,000. 80.22% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on LBRDK. Wall Street Zen upgraded Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.
Liberty Broadband Trading Down 2.2%
Shares of LBRDK opened at $33.36 on Friday. The stock has a fifty day moving average of $31.80 and a two-hundred day moving average of $42.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $4.79 billion, a PE ratio of -1.74 and a beta of 0.65. Liberty Broadband Corporation has a fifty-two week low of $26.25 and a fifty-two week high of $65.72.
Liberty Broadband Company Profile
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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