abrdn plc Reduces Position in Liberty Broadband Co. (NASDAQ:LBRDK)

abrdn plc decreased its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDKGet Rating) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,830 shares of the company’s stock after selling 574 shares during the period. abrdn plc’s holdings in Liberty Broadband were worth $1,625,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Godsey & Gibb Associates purchased a new stake in shares of Liberty Broadband in the fourth quarter valued at $29,000. Covestor Ltd purchased a new stake in shares of Liberty Broadband in the fourth quarter valued at $32,000. Confluence Wealth Services Inc. purchased a new stake in shares of Liberty Broadband in the fourth quarter valued at $36,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Liberty Broadband by 480.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 296 shares of the company’s stock valued at $47,000 after purchasing an additional 245 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of Liberty Broadband in the fourth quarter valued at $74,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LBRDK. Morgan Stanley lifted their target price on Liberty Broadband from $124.00 to $139.00 and gave the company an “equal weight” rating in a report on Thursday, June 2nd. StockNews.com upgraded Liberty Broadband from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th. Rosenblatt Securities initiated coverage on Liberty Broadband in a research note on Tuesday, April 19th. They set a “buy” rating and a $222.00 price objective on the stock. TheStreet cut Liberty Broadband from a “b-” rating to a “c+” rating in a research note on Monday, May 16th. Finally, Pivotal Research reduced their price objective on Liberty Broadband to $160.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Liberty Broadband presently has a consensus rating of “Moderate Buy” and an average price target of $176.50.

Insider Activity at Liberty Broadband

In other news, Director J David Wargo acquired 300 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was purchased at an average cost of $110.76 per share, with a total value of $33,228.00. Following the completion of the acquisition, the director now directly owns 32,214 shares in the company, valued at $3,568,022.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.80% of the stock is owned by corporate insiders.

Liberty Broadband Trading Down 0.6 %

NASDAQ:LBRDK opened at $108.23 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.02. Liberty Broadband Co. has a one year low of $102.14 and a one year high of $194.05. The business’s 50-day simple moving average is $117.48 and its 200 day simple moving average is $129.86. The stock has a market cap of $17.62 billion, a price-to-earnings ratio of 19.79 and a beta of 0.92.

Liberty Broadband (NASDAQ:LBRDKGet Rating) last released its quarterly earnings results on Friday, May 6th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.73 by $0.04. The business had revenue of $238.00 million for the quarter, compared to analysts’ expectations of $244.27 million. Liberty Broadband had a return on equity of 9.79% and a net margin of 99.93%. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, sell-side analysts predict that Liberty Broadband Co. will post 7.04 earnings per share for the current fiscal year.

Liberty Broadband Profile

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Liberty Broadband Corporation engages in the communications businesses. It operates through GCI Holdings and Charter segments. The GCI Holdings segment provides a range of wireless, data, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions primarily in Alaska under the GCI brand.

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Institutional Ownership by Quarter for Liberty Broadband (NASDAQ:LBRDK)

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