Envestnet Asset Management Inc. Purchases 4,211 Shares of Liberty Broadband Corporation (NASDAQ:LBRDA)

Key Points

• Envestnet Asset Management Inc. increased its stake in Liberty Broadband Corporation by 30.8%, acquiring an additional 4,211 shares, bringing its total holdings to 17,897 shares valued at approximately $1.5 million.
• Liberty Broadband shares have recently seen a 3.6% decline, trading at $61.13, with a 52-week range between $57.34 and $102.38.
• The company reported an EPS of $1.87 for the latest quarter, significantly surpassing the consensus estimate of $1.20, alongside a net margin of 86.40%.

Envestnet Asset Management Inc. raised its stake in Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 30.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,897 shares of the company's stock after acquiring an additional 4,211 shares during the period. Envestnet Asset Management Inc.'s holdings in Liberty Broadband were worth $1,521,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. American National Bank & Trust acquired a new stake in Liberty Broadband during the 1st quarter valued at $32,000. Farther Finance Advisors LLC grew its holdings in shares of Liberty Broadband by 54.2% during the first 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% in the fourth quarter. Sterling Capital Management LLC now owns 815 shares of the company's stock valued at $61,000 after buying an additional 265 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Liberty Broadband by 8,480.0% in the fourth 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, CIBC Private Wealth Group LLC lifted its position in Liberty Broadband by 79.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,471 shares of the company's stock worth $187,000 after buying an additional 1,096 shares in the last quarter. 10.29% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Price Performance

NASDAQ:LBRDA traded down $1.22 during mid-day trading on Friday, reaching $59.91. 96,300 shares of the company were exchanged, compared to its average volume of 170,541. 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 cap of $8.59 billion, a PE ratio of 9.57 and a beta of 0.96. Liberty Broadband Corporation has a 12 month low of $57.34 and a 12 month high of $102.38. The company has a fifty day moving average of $90.43 and a 200 day moving average of $85.10.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.67. Liberty Broadband had a net margin of 86.40% and a return on equity of 9.24%. The business had revenue of $266.00 million during the quarter, compared to analyst estimates of $248.60 million.

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.