Gabelli Funds LLC Has $14.07 Million Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Gabelli Funds LLC reduced its stake in Liberty Broadband Co. (NASDAQ:LBRDK) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,826 shares of the company’s stock after selling 4,644 shares during the period. Gabelli Funds LLC owned 0.17% of Liberty Broadband worth $14,069,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LBRDK. Norges Bank acquired a new position in shares of Liberty Broadband in the fourth quarter valued at $104,363,000. Mango Investments LLC acquired a new position in shares of Liberty Broadband in the fourth quarter valued at about $49,570,000. Vanguard Group Inc. grew its stake in shares of Liberty Broadband by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 11,213,505 shares of the company’s stock valued at $903,696,000 after acquiring an additional 243,156 shares in the last quarter. Finepoint Capital LP acquired a new position in shares of Liberty Broadband in the fourth quarter valued at about $14,866,000. Finally, Invenomic Capital Management LP acquired a new position in shares of Liberty Broadband in the fourth quarter valued at about $14,639,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upped their price target on shares of Liberty Broadband from $62.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th.

Liberty Broadband Price Performance

Liberty Broadband stock traded up $8.43 during trading hours on Friday, reaching $64.77. 2,246,182 shares of the stock were exchanged, compared to its average volume of 757,688. The company has a market cap of $9.25 billion, a P/E ratio of 11.00 and a beta of 1.01. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $95.68. The stock has a 50 day moving average of $53.50 and a two-hundred day moving average of $57.54.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.69). The firm had revenue of $245.00 million for the quarter, compared to analyst estimates of $244.41 million. Liberty Broadband had a return on equity of 9.55% and a net margin of 87.75%. Equities analysts expect that Liberty Broadband Co. will post 9.05 EPS for the current fiscal year.

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.