Credit Industriel ET Commercial Grows Stake in Liberty Broadband Corporation $LBRDA

Key Points

• Credit Industriel ET Commercial increased its stake in Liberty Broadband Corporation by 20.7% during Q2, holding around 66,372 shares worth approximately $6.08 million.
• Liberty Broadband recently reported earnings of $2.68 per share for the last quarter, exceeding estimates by $1.31, alongside a higher revenue of $261 million.
• The company's stock has an average price target of $100.67, with a consensus rating of "Hold" from analysts, indicating mixed outlooks on its performance.

Credit Industriel ET Commercial lifted its position in Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 20.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,372 shares of the company's stock after purchasing an additional 11,387 shares during the quarter. Liberty Broadband accounts for about 0.5% of Credit Industriel ET Commercial's holdings, making the stock its 28th largest holding. Credit Industriel ET Commercial's holdings in Liberty Broadband were worth $6,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in Liberty Broadband by 54.2% during the first quarter. Farther Finance Advisors LLC now owns 566 shares of the company's stock valued at $48,000 after buying an additional 199 shares during the period. GAMMA Investing LLC raised its stake in shares of Liberty Broadband by 21.2% during the second quarter. GAMMA Investing LLC now owns 698 shares of the company's stock valued at $68,000 after acquiring an additional 122 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Liberty Broadband by 30.8% during the second quarter. Central Pacific Bank Trust Division now owns 1,700 shares of the company's stock valued at $166,000 after acquiring an additional 400 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Liberty Broadband by 10.8% during the second quarter. Parallel Advisors LLC now owns 1,798 shares of the company's stock valued at $176,000 after acquiring an additional 175 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Liberty Broadband by 38.4% during the first quarter. CWM LLC now owns 1,963 shares of the company's stock valued at $167,000 after acquiring an additional 545 shares during the last quarter. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Broadband in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.67.

Liberty Broadband Price Performance

Shares of LBRDA opened at $59.47 on Tuesday. The stock has a market cap of $8.53 billion, a PE ratio of 7.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60. Liberty Broadband Corporation has a fifty-two week low of $57.35 and a fifty-two week high of $102.38. The firm's 50-day simple moving average is $60.90 and its two-hundred day simple moving average is $78.11.

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

Liberty Broadband Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 2.9%.

Liberty Broadband Company 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.

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