Legacy Capital Group California Inc. Makes New $614,000 Investment in Liberty Broadband Corporation (NASDAQ:LBRDK)

Key Points

• Legacy Capital Group California Inc. acquired a new stake in Liberty Broadband Corporation, purchasing 7,223 shares valued at approximately $614,000 in the first quarter of 2023.
• Institutional investors and hedge funds now hold 80.22% of Liberty Broadband's stock, indicating strong institutional confidence in the company.
• Liberty Broadband's shares have experienced significant price fluctuations, with a 52-week low of $58.35 and a high of $104.00, while currently trading around $60.26.

Legacy Capital Group California Inc. purchased a new position in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,223 shares of the company's stock, valued at approximately $614,000.

A number of other hedge funds also recently bought and sold shares of LBRDK. Deutsche Bank AG raised its holdings in shares of Liberty Broadband by 125.6% during the fourth quarter. Deutsche Bank AG now owns 3,060,143 shares of the company's stock valued at $228,776,000 after acquiring an additional 1,703,637 shares during the last quarter. Madison Asset Management LLC raised its holdings in shares of Liberty Broadband by 8.5% during the first quarter. Madison Asset Management LLC now owns 1,781,745 shares of the company's stock valued at $151,537,000 after acquiring an additional 140,307 shares during the last quarter. Makaira Partners LLC raised its holdings in shares of Liberty Broadband by 219.6% during the fourth quarter. Makaira Partners LLC now owns 1,244,270 shares of the company's stock valued at $93,022,000 after acquiring an additional 854,954 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Liberty Broadband by 425.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,231,136 shares of the company's stock valued at $92,040,000 after purchasing an additional 996,764 shares during the last quarter. Finally, Pentwater Capital Management LP increased its holdings in shares of Liberty Broadband by 454.0% in the fourth quarter. Pentwater Capital Management LP now owns 1,108,000 shares of the company's stock valued at $82,834,000 after purchasing an additional 908,000 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company's stock.

Liberty Broadband Stock Performance

Shares of LBRDK traded down $0.52 during midday trading on Friday, reaching $58.30. 2,104,782 shares of the stock were exchanged, compared to its average volume of 2,567,637. The business's 50-day moving average price is $86.71 and its 200 day moving average price is $85.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.39 and a quick ratio of 1.39. Liberty Broadband Corporation has a twelve month low of $58.19 and a twelve month high of $104.00. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 7.69 and a beta of 0.96.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.87 EPS for the quarter. The business had revenue of $256.00 million for the quarter. Liberty Broadband had a return on equity of 11.06% and a net margin of 105.04%. On average, sell-side analysts expect that Liberty Broadband Corporation will post 7.71 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen raised Liberty Broadband to a "hold" rating in a report on Saturday, July 12th.

About Liberty Broadband

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.