Contravisory Investment Management Inc. Acquires Shares of 109,181 Liberty Broadband Co. (NASDAQ:LBRDK)

Contravisory Investment Management Inc. bought a new stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 109,181 shares of the company's stock, valued at approximately $9,286,000. Liberty Broadband makes up about 2.0% of Contravisory Investment Management Inc.'s holdings, making the stock its 15th biggest holding. Contravisory Investment Management Inc. owned about 0.08% of Liberty Broadband at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Liberty Broadband by 6,562.2% during the first quarter. GAMMA Investing LLC now owns 35,976 shares of the company's stock worth $3,060,000 after purchasing an additional 35,436 shares in the last quarter. Versant Capital Management Inc grew 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 worth $141,000 after purchasing an additional 1,047 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Liberty Broadband by 3.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,908 shares of the company's stock worth $965,000 after purchasing an additional 453 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of Liberty Broadband by 32.4% during the fourth quarter. Forum Financial Management LP now owns 3,678 shares of the company's stock worth $275,000 after purchasing an additional 901 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Liberty Broadband by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 331,555 shares of the company's stock worth $24,787,000 after purchasing an additional 47,667 shares in the last quarter. Hedge funds and other institutional investors own 80.22% of the company's stock.

Liberty Broadband Price Performance

LBRDK traded up $1.15 during midday trading on Friday, hitting $94.16. The stock had a trading volume of 520,400 shares, compared to its average volume of 1,009,325. The company has a market cap of $13.50 billion, a P/E ratio of 17.34 and a beta of 1.00. The business has a fifty day moving average of $87.93 and a 200 day moving average of $83.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. Liberty Broadband Co. has a 1 year low of $49.38 and a 1 year high of $104.00.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share (EPS) for the quarter. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The business had revenue of $256.00 million during the quarter. As a group, equities analysts forecast that Liberty Broadband Co. will post 7.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Liberty Broadband in a report on Friday, May 16th. They set a "sell" rating for the company.

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.