Swiss National Bank trimmed its stake in Liberty Broadband Co. (NASDAQ:LBRDK – Free Report) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 384,868 shares of the company’s stock after selling 47,300 shares during the period. Swiss National Bank owned approximately 0.26% of Liberty Broadband worth $35,146,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Liberty Broadband by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 12,706,439 shares of the company’s stock worth $1,719,435,000 after purchasing an additional 48,029 shares during the period. Aristeia Capital LLC increased its holdings in Liberty Broadband by 2.6% during the 2nd quarter. Aristeia Capital LLC now owns 6,072,042 shares of the company’s stock worth $486,431,000 after purchasing an additional 151,202 shares during the period. Ruane Cunniff & Goldfarb L.P. increased its holdings in Liberty Broadband by 43.7% during the 2nd quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,286,361 shares of the company’s stock worth $263,270,000 after purchasing an additional 999,886 shares during the period. Barclays PLC increased its holdings in Liberty Broadband by 315.0% during the 3rd quarter. Barclays PLC now owns 2,675,919 shares of the company’s stock worth $244,364,000 after purchasing an additional 2,031,168 shares during the period. Finally, Dorsal Capital Management LLC increased its holdings in Liberty Broadband by 108.3% during the 4th quarter. Dorsal Capital Management LLC now owns 2,500,000 shares of the company’s stock worth $190,675,000 after purchasing an additional 1,300,000 shares during the period. 77.27% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
LBRDK has been the topic of a number of analyst reports. Citigroup cut their price target on Liberty Broadband from $108.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com downgraded Liberty Broadband from a “hold” rating to a “sell” rating in a report on Thursday, November 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Liberty Broadband currently has a consensus rating of “Hold” and an average target price of $125.20.
Liberty Broadband Stock Performance
Shares of LBRDK opened at $59.88 on Friday. The stock has a 50-day moving average of $76.83 and a two-hundred day moving average of $84.67. Liberty Broadband Co. has a one year low of $59.51 and a one year high of $95.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $8.75 billion, a P/E ratio of 13.19 and a beta of 1.03.
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.
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