ING Groep NV Purchases 132,900 Shares of Liberty Broadband Corporation (NASDAQ:LBRDK)

Key Points

• ING Groep NV significantly increased its stakes in Liberty Broadband Corporation by 185.9%, owning approximately 204,400 shares worth around $17.38 million after acquiring an additional 132,900 shares.
• Liberty Broadband reported $1.87 earnings per share for the latest quarter, with a return on equity of 9.24% and a net margin of 88.10%.
• Wall Street analysts have raised Liberty Broadband to a "hold" rating, reflecting changing sentiments in investor outlook.

ING Groep NV boosted its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 185.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,400 shares of the company's stock after buying an additional 132,900 shares during the period. ING Groep NV owned approximately 0.14% of Liberty Broadband worth $17,384,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in Liberty Broadband in the first quarter worth $2,666,000. Amalgamated Bank raised its holdings in Liberty Broadband by 5.8% in the first quarter. Amalgamated Bank now owns 6,293 shares of the company's stock worth $535,000 after purchasing an additional 346 shares during the period. Highland Capital Management LLC acquired a new stake in Liberty Broadband in the first quarter worth $1,163,000. Envestnet Asset Management Inc. raised its holdings in Liberty Broadband by 9.1% in the first quarter. Envestnet Asset Management Inc. now owns 155,091 shares of the company's stock worth $13,191,000 after purchasing an additional 12,878 shares during the period. Finally, Hi Line Capital Management LLC raised its holdings in Liberty Broadband by 17.9% in the first quarter. Hi Line Capital Management LLC now owns 165,319 shares of the company's stock worth $14,060,000 after purchasing an additional 25,132 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Price Performance

Shares of NASDAQ:LBRDK traded down $0.52 during midday trading on Friday, hitting $58.30. The stock had a trading volume of 2,104,782 shares, compared to its average volume of 2,567,637. The company's 50-day moving average price is $86.71 and its 200-day moving average price is $85.14. The company has a market capitalization of $8.36 billion, a P/E ratio of 7.69 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.35. Liberty Broadband Corporation has a fifty-two week low of $58.19 and a fifty-two week high of $104.00.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share (EPS) for the quarter. The company had revenue of $256.00 million for the quarter. Liberty Broadband had a net margin of 105.04% and a return on equity of 11.06%. As a group, equities research analysts predict that Liberty Broadband Corporation will post 7.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Liberty Broadband to a "hold" rating in a research report 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.