57,611 Shares in Liberty Broadband Corporation (NASDAQ:LBRDK) Purchased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia has initiated a new position in Liberty Broadband Corporation by purchasing 57,611 shares valued at approximately $4.9 million in the first quarter.
• Liberty Broadband's stock opened at $60.26 with a market cap of $8.64 billion and a price-to-earnings ratio of 9.63.
• Wall Street analyst reports have upgraded Liberty Broadband to a "hold" rating as of July 12th.

Bank of Nova Scotia bought a new stake in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 57,611 shares of the company's stock, valued at approximately $4,900,000.

Other hedge funds have also bought and sold shares of the company. Vestor Capital LLC acquired a new stake in Liberty Broadband in the 1st quarter valued at about $44,000. Continuum Advisory LLC acquired a new stake in Liberty Broadband during the first quarter worth approximately $58,000. Quarry LP lifted its position in Liberty Broadband by 131.6% during the fourth quarter. Quarry LP now owns 836 shares of the company's stock worth $62,000 after acquiring an additional 475 shares during the last quarter. Versant Capital Management Inc lifted its position in Liberty Broadband by 171.6% during the first quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock worth $141,000 after acquiring an additional 1,047 shares during the last quarter. Finally, CWM LLC lifted its position in Liberty Broadband by 6.4% during the first quarter. CWM LLC now owns 2,309 shares of the company's stock worth $196,000 after acquiring an additional 138 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Liberty Broadband to a "hold" rating in a research report on Saturday, July 12th.

Liberty Broadband Trading Down 0.9%

LBRDK traded down $0.52 during trading on Friday, reaching $58.30. 2,104,782 shares of the stock traded hands, compared to its average volume of 2,567,637. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $8.36 billion, a PE ratio of 7.69 and a beta of 0.96. The stock's 50-day moving average is $86.71 and its 200 day moving average is $85.19. Liberty Broadband Corporation has a 12 month low of $58.19 and a 12 month high of $104.00.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 EPS for the quarter. The business had revenue of $256.00 million for the quarter. Liberty Broadband had a net margin of 105.04% and a return on equity of 11.06%. Equities analysts anticipate that Liberty Broadband Corporation will post 7.71 earnings per share for the current year.

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.