Liberty Broadband Corporation $LBRDA Stake Reduced by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC. sold 29,373 shares of Liberty Broadband Corporation, reducing its holdings by 39.8% in the first quarter, leaving them with 44,411 shares valued at approximately $3.77 million.
• Liberty Broadband recently reported earnings of $2.68 per share, significantly exceeding expectations with revenues of $261 million for the quarter.
• The company plans to issue a quarterly dividend of $0.4375 per share, which represents an annual yield of 2.9% based on its recent trading price.

First Manhattan CO. LLC. cut its position in shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 39.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,411 shares of the company's stock after selling 29,373 shares during the quarter. First Manhattan CO. LLC.'s holdings in Liberty Broadband were worth $3,775,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LBRDA. JNE Partners LLP bought a new position in Liberty Broadband during the fourth quarter worth $47,230,000. Westchester Capital Management LLC bought a new position in Liberty Broadband during the first quarter worth $19,622,000. Toronto Dominion Bank bought a new position in Liberty Broadband during the fourth quarter worth $10,190,000. Citigroup Inc. lifted its stake in Liberty Broadband by 80.8% during the first quarter. Citigroup Inc. now owns 142,427 shares of the company's stock worth $12,106,000 after purchasing an additional 63,656 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Liberty Broadband by 4.1% during the first quarter. Vanguard Group Inc. now owns 1,523,068 shares of the company's stock worth $129,461,000 after purchasing an additional 60,274 shares during the last quarter. 10.29% of the stock is currently owned by institutional investors.

Liberty Broadband Stock Performance

LBRDA traded up $0.34 during trading hours on Monday, hitting $60.08. 35,025 shares of the stock were exchanged, compared to its average volume of 152,922. The stock has a 50-day simple moving average of $73.54 and a 200-day simple moving average of $82.03. Liberty Broadband Corporation has a 12 month low of $57.34 and a 12 month high of $102.38. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 7.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60.

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. The company had revenue of $261.00 million for 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a 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.