Liberty Broadband Co. (NASDAQ:LBRDK) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its position in Liberty Broadband Co. (NASDAQ:LBRDKGet Rating) by 26.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,714,982 shares of the company’s stock after acquiring an additional 560,796 shares during the period. Bank of America Corp DE’s holdings in Liberty Broadband were worth $367,391,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Liberty Broadband by 0.4% in the first quarter. Vanguard Group Inc. now owns 12,706,439 shares of the company’s stock valued at $1,719,435,000 after purchasing an additional 48,029 shares during the period. BlackRock Inc. boosted its stake in shares of Liberty Broadband by 0.4% in the first quarter. BlackRock Inc. now owns 9,083,321 shares of the company’s stock valued at $1,229,152,000 after purchasing an additional 31,902 shares during the period. Aristeia Capital LLC raised its holdings in Liberty Broadband by 14.1% in the first quarter. Aristeia Capital LLC now owns 6,847,354 shares of the company’s stock valued at $926,584,000 after acquiring an additional 848,476 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Liberty Broadband by 2.0% in the first quarter. Principal Financial Group Inc. now owns 5,473,206 shares of the company’s stock valued at $740,634,000 after acquiring an additional 109,761 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Liberty Broadband by 6.9% during the first quarter. JPMorgan Chase & Co. now owns 3,377,850 shares of the company’s stock worth $457,090,000 after purchasing an additional 217,747 shares during the period. Institutional investors and hedge funds own 75.65% of the company’s stock.

Liberty Broadband Price Performance

NASDAQ LBRDK opened at $91.33 on Monday. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 11.36 and a beta of 0.92. The company has a 50 day simple moving average of $110.18 and a 200-day simple moving average of $120.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.23 and a quick ratio of 1.23. Liberty Broadband Co. has a 52-week low of $90.43 and a 52-week high of $179.49.

Liberty Broadband (NASDAQ:LBRDKGet Rating) last announced its quarterly earnings results on Friday, August 5th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $1.78 by $1.09. The company had revenue of $239.00 million for the quarter, compared to the consensus estimate of $240.38 million. Liberty Broadband had a return on equity of 13.94% and a net margin of 142.14%. Equities research analysts predict that Liberty Broadband Co. will post 8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LBRDK. TD Securities dropped their target price on shares of Liberty Broadband from $200.00 to $185.00 in a report on Wednesday, June 29th. Morgan Stanley dropped their target price on shares of Liberty Broadband from $139.00 to $122.00 and set an “equal weight” rating on the stock in a report on Friday, August 19th. Two research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $172.25.

Liberty Broadband Profile

(Get Rating)

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.

Further Reading

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

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