Citigroup Inc. Buys 63,656 Shares of Liberty Broadband Corporation $LBRDA

Key Points

• Citigroup Inc. increased its holdings in Liberty Broadband Corporation by 80.8% in the first quarter, now owning approximately 0.10% of the company worth about $12.1 million.
• Liberty Broadband's stock price rose to $61.19 recently, with a market capitalization of $8.77 billion and earnings per share reported at $2.68, significantly surpassing analysts' expectations.
• Institutional investors currently own 10.29% of Liberty Broadband’s stock, reflecting a trend of increasing investments among numerous hedge funds.

Citigroup Inc. lifted its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 80.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,427 shares of the company's stock after purchasing an additional 63,656 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Liberty Broadband worth $12,106,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American National Bank & Trust acquired a new position in shares of Liberty Broadband during the 1st quarter worth $32,000. Farther Finance Advisors LLC increased its stake in shares of Liberty Broadband by 54.2% during the 1st quarter. Farther Finance Advisors LLC now owns 566 shares of the company's stock worth $48,000 after purchasing an additional 199 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Liberty Broadband by 48.2% during the 4th quarter. Sterling Capital Management LLC now owns 815 shares of the company's stock worth $61,000 after purchasing an additional 265 shares during the last quarter. Lazard Asset Management LLC grew its stake in Liberty Broadband by 8,480.0% in the 4th quarter. Lazard Asset Management LLC now owns 2,145 shares of the company's stock valued at $159,000 after buying an additional 2,120 shares during the last quarter. Finally, CWM LLC grew its stake in Liberty Broadband by 38.4% in the 1st quarter. CWM LLC now owns 1,963 shares of the company's stock valued at $167,000 after buying an additional 545 shares during the last quarter. Institutional investors and hedge funds own 10.29% of the company's stock.

Liberty Broadband Stock Performance

NASDAQ:LBRDA traded up $0.0290 during midday trading on Tuesday, reaching $61.0190. The stock had a trading volume of 35,196 shares, compared to its average volume of 157,130. Liberty Broadband Corporation has a 1-year low of $57.34 and a 1-year high of $102.38. The firm's fifty day simple moving average is $82.29 and its 200-day simple moving average is $83.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $8.75 billion, a P/E ratio of 8.05 and a beta of 0.95.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $1.31. Liberty Broadband had a net margin of 103.04% and a return on equity of 10.89%. The business had revenue of $261.00 million for the quarter, compared to analyst estimates of $251.70 million.

Liberty Broadband 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. 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.