Gabelli Funds LLC Sells 4,644 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Gabelli Funds LLC trimmed its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,826 shares of the company’s stock after selling 4,644 shares during the period. Gabelli Funds LLC’s holdings in Liberty Broadband were worth $14,069,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LBRDK. SG Americas Securities LLC bought a new stake in Liberty Broadband in the 4th quarter valued at about $327,000. Raymond James Financial Services Advisors Inc. raised its stake in Liberty Broadband by 31.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,974 shares of the company’s stock valued at $320,000 after acquiring an additional 955 shares during the period. GAM Holding AG bought a new stake in Liberty Broadband in the 4th quarter valued at about $484,000. Arizona State Retirement System raised its stake in Liberty Broadband by 0.8% in the 4th quarter. Arizona State Retirement System now owns 32,887 shares of the company’s stock valued at $2,650,000 after acquiring an additional 246 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Liberty Broadband in the 4th quarter valued at about $1,026,000. 80.22% of the stock is currently owned by institutional investors.

Liberty Broadband Price Performance

LBRDK stock traded up $8.43 during mid-day trading on Friday, reaching $64.77. 2,246,182 shares of the company traded hands, compared to its average volume of 757,688. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market capitalization of $9.25 billion, a P/E ratio of 11.00 and a beta of 1.01. Liberty Broadband Co. has a 52-week low of $46.46 and a 52-week high of $95.68. The company has a fifty day moving average price of $53.50 and a 200-day moving average price of $57.54.

Liberty Broadband (NASDAQ:LBRDK) last posted its earnings results on Wednesday, May 8th. The company reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.69). The company had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $244.41 million. Liberty Broadband had a net margin of 87.75% and a return on equity of 9.55%. As a group, analysts anticipate that Liberty Broadband Co. will post 9.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley boosted their price objective on 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 Company Profile

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.