First Manhattan CO. LLC. Decreases Position in Liberty Broadband Corporation $LBRDK

Key Points

• First Manhattan CO. LLC. has sold 25,842 shares of Liberty Broadband Corporation, reducing its stake by 20.2%, resulting in ownership of 102,241 shares valued at approximately $8.7 million.
• Several institutional investors, including Raymond James Financial and Northern Trust Corp, have recently modified their positions in Liberty Broadband, indicating ongoing interest in the company.
• Liberty Broadband's stock price opened at $60.86, with a market capitalization of $8.73 billion, reflecting a PE ratio of 8.03 and a 52-week range between $57.91 and $104.00.

First Manhattan CO. LLC. trimmed its position in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,241 shares of the company's stock after selling 25,842 shares during the period. First Manhattan CO. LLC. owned 0.07% of Liberty Broadband worth $8,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC grew its position in Liberty Broadband by 3.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 4,197 shares of the company's stock worth $357,000 after purchasing an additional 126 shares during the period. Ameriprise Financial Inc. grew its position in Liberty Broadband by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 27,909 shares of the company's stock worth $2,086,000 after purchasing an additional 131 shares during the period. CWM LLC grew its position in 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 during the period. Northeast Financial Consultants Inc grew its position in Liberty Broadband by 6.3% during the 4th quarter. Northeast Financial Consultants Inc now owns 2,989 shares of the company's stock worth $223,000 after purchasing an additional 177 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Liberty Broadband by 4.4% during the 1st quarter. Venturi Wealth Management LLC now owns 4,424 shares of the company's stock worth $376,000 after purchasing an additional 186 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Liberty Broadband Price Performance

Shares of LBRDK stock traded up $0.50 during mid-day trading on Friday, hitting $59.98. 1,241,120 shares of the stock were exchanged, compared to its average volume of 1,125,309. The firm has a fifty day moving average of $73.85 and a 200 day moving average of $82.66. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. Liberty Broadband Corporation has a 52-week low of $57.91 and a 52-week high of $104.00. The company has a market cap of $8.61 billion, a PE ratio of 7.91 and a beta of 0.97.

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.