FPR Partners LLC Reduces Stock Position in Liberty Broadband Corporation $LBRDA

Key Points

• FPR Partners LLC reduced its stake in Liberty Broadband Corporation by 11.7%, now holding approximately $68.15 million worth of shares, making it the firm's fifth largest holding.
• Liberty Broadband reported an impressive EPS of $2.68 for the quarter, significantly exceeding analyst expectations, alongside a net revenue of $261 million.
• The company announced a quarterly dividend of $0.4375 per share, translating to an annualized yield of 2.9%, set to be paid out on September 10th.

FPR Partners LLC cut its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 801,718 shares of the company's stock after selling 106,504 shares during the quarter. Liberty Broadband accounts for about 11.7% of FPR Partners LLC's holdings, making the stock its 5th biggest holding. FPR Partners LLC owned approximately 0.56% of Liberty Broadband worth $68,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. lifted its position in Liberty Broadband by 4.4% during the first quarter. American Century Companies Inc. now owns 3,188 shares of the company's stock valued at $271,000 after purchasing an additional 135 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Liberty Broadband by 54.2% in the 1st quarter. Farther Finance Advisors LLC now owns 566 shares of the company's stock worth $48,000 after acquiring an additional 199 shares during the last quarter. S&CO Inc. increased its stake in shares of Liberty Broadband by 0.3% in the first quarter. S&CO Inc. now owns 81,205 shares of the company's stock worth $6,902,000 after buying an additional 226 shares during the period. Stifel Financial Corp increased its stake in shares of Liberty Broadband by 1.4% in the fourth quarter. Stifel Financial Corp now owns 16,307 shares of the company's stock worth $1,213,000 after buying an additional 230 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Liberty Broadband by 7.1% in the first quarter. Deutsche Bank AG now owns 3,598 shares of the company's stock worth $306,000 after buying an additional 238 shares during the period. 10.29% of the stock is currently owned by institutional investors.

Liberty Broadband Trading Up 0.7%

Shares of NASDAQ LBRDA traded up $0.45 during mid-day trading on Wednesday, hitting $61.25. The stock had a trading volume of 22,098 shares, compared to its average volume of 155,739. 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 1 year low of $57.34 and a 1 year high of $102.38. The business has a 50 day moving average price of $78.68 and a two-hundred day moving average price of $83.09. The firm has a market cap of $8.79 billion, a P/E ratio of 8.08 and a beta of 0.95.

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

Liberty Broadband Announces Dividend

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