Empyrean Capital Partners LP bought a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 320,561 shares of the company's stock, valued at approximately $23,965,000. Liberty Broadband accounts for about 1.1% of Empyrean Capital Partners LP's holdings, making the stock its 27th largest holding. Empyrean Capital Partners LP owned approximately 0.22% of Liberty Broadband at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. First Manhattan CO. LLC. lifted its position in shares of Liberty Broadband by 4.6% during the 4th quarter. First Manhattan CO. LLC. now owns 128,083 shares of the company's stock valued at $9,575,000 after acquiring an additional 5,607 shares during the period. Deutsche Bank AG lifted its position in shares of Liberty Broadband by 125.6% during the 4th quarter. Deutsche Bank AG now owns 3,060,143 shares of the company's stock valued at $228,776,000 after acquiring an additional 1,703,637 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Liberty Broadband during the 4th quarter valued at approximately $3,577,000. Blackstone Inc. acquired a new stake in shares of Liberty Broadband during the 4th quarter valued at approximately $539,000. Finally, Chapman Financial Group LLC acquired a new stake in shares of Liberty Broadband during the 4th quarter valued at approximately $664,000. Institutional investors and hedge funds own 80.22% of the company's stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Liberty Broadband in a research report on Thursday. They set a "sell" rating for the company.
Read Our Latest Stock Report on LBRDK
Liberty Broadband Trading Down 0.7%
Shares of NASDAQ LBRDK traded down $0.63 during trading on Friday, hitting $92.97. 634,700 shares of the company traded hands, compared to its average volume of 1,024,552. Liberty Broadband Co. has a 1 year low of $49.38 and a 1 year high of $101.50. The company has a 50-day moving average price of $83.28 and a 200-day moving average price of $82.27. The firm has a market capitalization of $13.32 billion, a P/E ratio of 17.12 and a beta of 1.02. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40.
Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share for the quarter. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The firm had revenue of $256.00 million during the quarter. On average, equities analysts predict that Liberty Broadband Co. will post 7.71 EPS for the current year.
About Liberty Broadband
(
Free Report)
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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