Harvest Fund Management Co. Ltd Invests $372,000 in Liberty Broadband Corporation (NASDAQ:LBRDK)

Key Points

• Harvest Fund Management Co. Ltd has acquired a new stake in **Liberty Broadband Corporation (NASDAQ:LBRDK)**, purchasing 4,374 shares valued at approximately $372,000.
• Liberty Broadband's shares opened at **$63.63**, with a market capitalization of **$9.12 billion** and a P/E ratio of **10.16**.
• Research analysts have recently raised Liberty Broadband to a **"hold" rating**, indicating a shift in market sentiment towards the stock.

Harvest Fund Management Co. Ltd purchased a new position in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,374 shares of the company's stock, valued at approximately $372,000.

A number of other hedge funds have also made changes to their positions in the stock. LPL Financial LLC boosted its holdings in Liberty Broadband by 225.4% in the first quarter. LPL Financial LLC now owns 18,724 shares of the company's stock worth $1,592,000 after purchasing an additional 12,969 shares during the period. TD Asset Management Inc boosted its holdings in Liberty Broadband by 15.4% in the first quarter. TD Asset Management Inc now owns 94,360 shares of the company's stock worth $8,025,000 after purchasing an additional 12,568 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in Liberty Broadband in the first quarter worth $1,021,000. Madison Asset Management LLC boosted its holdings in Liberty Broadband by 8.5% in the first quarter. Madison Asset Management LLC now owns 1,781,745 shares of the company's stock worth $151,537,000 after purchasing an additional 140,307 shares during the period. Finally, Vestor Capital LLC acquired a new position in Liberty Broadband in the first quarter worth $44,000. Institutional investors and hedge funds own 80.22% of the company's stock.

Liberty Broadband Price Performance

Liberty Broadband stock traded down $1.21 during midday trading on Friday, hitting $60.11. The company's stock had a trading volume of 3,160,181 shares, compared to its average volume of 2,200,094. 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's 50-day moving average price is $91.02 and its 200-day moving average price is $85.83. Liberty Broadband Corporation has a 12 month low of $58.35 and a 12 month high of $104.00. The company has a market capitalization of $8.62 billion, a PE ratio of 9.60 and a beta of 0.96.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $256.00 million for the quarter. Liberty Broadband had a return on equity of 9.24% and a net margin of 88.10%. Analysts anticipate that Liberty Broadband Corporation will post 7.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Liberty Broadband 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.