Millennium Management LLC Sells 233,737 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Millennium Management LLC cut its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 493,086 shares of the company's stock after selling 233,737 shares during the period. Millennium Management LLC owned approximately 0.35% of Liberty Broadband worth $36,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in Liberty Broadband by 61.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the company's stock valued at $30,000 after purchasing an additional 154 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Liberty Broadband by 134.3% in the 4th quarter. Blue Trust Inc. now owns 464 shares of the company's stock worth $36,000 after purchasing an additional 266 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Liberty Broadband in the 4th quarter worth approximately $36,000. Jones Financial Companies Lllp increased its holdings in shares of Liberty Broadband by 138.0% in the fourth quarter. Jones Financial Companies Lllp now owns 488 shares of the company's stock valued at $36,000 after buying an additional 283 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Liberty Broadband in the 4th quarter worth $37,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Stock Down 2.0%

Shares of LBRDK traded down $1.99 during trading hours on Wednesday, hitting $98.34. 1,553,984 shares of the company were exchanged, compared to its average volume of 1,033,001. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $14.09 billion, a PE ratio of 18.11 and a beta of 1.02. The firm's 50 day moving average is $85.21 and its 200-day moving average is $82.99. Liberty Broadband Co. has a 52 week low of $49.38 and a 52 week high of $104.00.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last released 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 during the quarter. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. On average, equities research analysts forecast that Liberty Broadband Co. will post 7.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Liberty Broadband in a report on Friday, May 16th. They set a "sell" rating on the stock.

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.