Bank of Nova Scotia Takes Position in Liberty Broadband Corporation (NASDAQ:LBRDK)

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 purchased a new position in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 57,611 shares of the company's stock, valued at approximately $4,900,000.

A number of other institutional investors also recently modified their holdings of the company. Vestor Capital LLC acquired a new stake in shares of Liberty Broadband during the 1st quarter worth approximately $44,000. Continuum Advisory LLC acquired a new stake in Liberty Broadband in the first quarter worth $58,000. Quarry LP increased its stake in Liberty Broadband by 131.6% in the fourth quarter. Quarry LP now owns 836 shares of the company's stock valued at $62,000 after purchasing an additional 475 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Liberty Broadband by 171.6% during the first quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock valued at $141,000 after purchasing an additional 1,047 shares during the period. Finally, CWM LLC boosted its position in shares of Liberty Broadband by 6.4% during the 1st quarter. CWM LLC now owns 2,309 shares of the company's stock worth $196,000 after purchasing an additional 138 shares in the last quarter. 80.22% of the stock is owned by institutional investors.

Liberty Broadband Price Performance

NASDAQ LBRDK traded down $0.75 during trading hours on Thursday, hitting $58.82. The company had a trading volume of 1,774,341 shares, compared to its average volume of 2,531,188. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 9.40 and a beta of 0.96. Liberty Broadband Corporation has a 52 week low of $58.35 and a 52 week high of $104.00. The firm has a 50 day simple moving average of $87.40 and a 200 day simple moving average of $85.27.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $256.00 million for the quarter. Liberty Broadband had a net margin of 88.10% and a return on equity of 9.24%. Equities research analysts expect that Liberty Broadband Corporation will post 7.71 earnings per share for the current year.

Analysts Set New Price Targets

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

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.