GABELLI & Co INVESTMENT ADVISERS INC. Buys New Position in Liberty Broadband Corporation $LBRDA

Key Points

• GABELLI & Co INVESTMENT ADVISERS opened a new position in Liberty Broadband during the first quarter, buying 125,000 shares worth about $6.28 million.
• Several other institutional investors also adjusted their holdings, and institutional ownership now stands at 10.29% of the stock.
• Liberty Broadband shares were trading at $28.87, near their 52-week low of $26.14, and the stock currently carries a consensus Sell rating.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 125,000 shares of the company's stock, valued at approximately $6,278,000. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.09% of Liberty Broadband at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gamco Investors INC. ET AL lifted its stake in shares of Liberty Broadband by 2.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 125,701 shares of the company's stock worth $6,313,000 after acquiring an additional 3,338 shares during the period. DLD Asset Management LP increased its stake in shares of Liberty Broadband by 46.8% during the first quarter. DLD Asset Management LP now owns 15,681 shares of the company's stock valued at $788,000 after acquiring an additional 5,000 shares during the period. Transmarket Holdings LP bought a new stake in Liberty Broadband during the first quarter worth approximately $1,074,000. PNC Financial Services Group Inc. lifted its position in Liberty Broadband by 19.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,816 shares of the company's stock worth $192,000 after purchasing an additional 618 shares during the period. Finally, Parallel Advisors LLC lifted its position in Liberty Broadband by 388.4% in the first quarter. Parallel Advisors LLC now owns 2,154 shares of the company's stock worth $108,000 after purchasing an additional 1,713 shares during the period. 10.29% of the stock is currently owned by institutional investors.

Liberty Broadband Stock Performance

Shares of NASDAQ LBRDA opened at $28.87 on Friday. The stock's fifty day simple moving average is $31.83 and its 200 day simple moving average is $42.85. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -1.51 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. Liberty Broadband Corporation has a 52-week low of $26.14 and a 52-week high of $76.50.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.41 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

Liberty Broadband Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter's Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.

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