Bank of America Corp DE Sells 33,271 Shares of Liberty Broadband Co. (NASDAQ:LBRDA)

Bank of America Corp DE cut its stake in Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) by 85.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,830 shares of the company's stock after selling 33,271 shares during the period. Bank of America Corp DE's holdings in Liberty Broadband were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LBRDA. Wealthfront Advisers LLC acquired a new stake in shares of Liberty Broadband during the 4th quarter worth approximately $35,441,000. Norges Bank bought a new position in Liberty Broadband in the fourth quarter valued at approximately $15,896,000. Aristeia Capital L.L.C. lifted its stake in Liberty Broadband by 9.1% in the fourth quarter. Aristeia Capital L.L.C. now owns 1,675,445 shares of the company's stock valued at $124,586,000 after buying an additional 139,186 shares in the last quarter. Pentwater Capital Management LP bought a new position in Liberty Broadband in the fourth quarter valued at approximately $7,585,000. Finally, Whitebox Advisors LLC lifted its position in shares of Liberty Broadband by 74.6% in the fourth quarter. Whitebox Advisors LLC now owns 206,296 shares of the company's stock worth $15,340,000 after purchasing an additional 88,145 shares in the last quarter. 10.29% of the stock is owned by institutional investors.

Liberty Broadband Trading Down 2.0%

NASDAQ:LBRDA traded down $1.84 on Friday, reaching $91.29. 109,987 shares of the stock traded hands, compared to its average volume of 161,120. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 16.81 and a beta of 0.99. Liberty Broadband Co. has a 1-year low of $49.68 and a 1-year high of $102.38. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The company's 50 day moving average is $88.36 and its 200-day moving average is $82.69.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.67. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The company had revenue of $266.00 million for the quarter, compared to analysts' expectations of $248.60 million.

Analyst Ratings Changes

Separately, Benchmark lowered their target price on shares of Liberty Broadband from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $86.20.

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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.