Liberty Broadband Corporation $LBRDA Shares Acquired by Credit Industriel ET Commercial

Key Points

• Credit Industriel ET Commercial increased its stake in Liberty Broadband Corporation by 20.7%, owning 66,372 shares valued at approximately $6.08 million.
• Liberty Broadband reported significantly stronger-than-expected earnings, with $2.68 earnings per share compared to an estimate of $1.37, alongside revenue of $261 million.
• The company declared a quarterly dividend of $0.4375 per share, translating to an annualized dividend yield of 2.9%.

Credit Industriel ET Commercial grew its holdings in Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 20.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,372 shares of the company's stock after buying an additional 11,387 shares during the period. Liberty Broadband accounts for about 0.5% of Credit Industriel ET Commercial's holdings, making the stock its 27th biggest holding. Credit Industriel ET Commercial's holdings in Liberty Broadband were worth $6,082,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Liberty Broadband by 54.2% in the first quarter. Farther Finance Advisors LLC now owns 566 shares of the company's stock valued at $48,000 after buying an additional 199 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Liberty Broadband by 21.2% in the second quarter. GAMMA Investing LLC now owns 698 shares of the company's stock valued at $68,000 after purchasing an additional 122 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Liberty Broadband by 30.8% in the second quarter. Central Pacific Bank Trust Division now owns 1,700 shares of the company's stock valued at $166,000 after purchasing an additional 400 shares during the period. CWM LLC grew its holdings in shares of Liberty Broadband by 38.4% in the first quarter. CWM LLC now owns 1,963 shares of the company's stock valued at $167,000 after purchasing an additional 545 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Liberty Broadband by 10.8% in the second quarter. Parallel Advisors LLC now owns 1,798 shares of the company's stock valued at $176,000 after purchasing an additional 175 shares during the period. 10.29% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Trading Up 0.0%

Shares of LBRDA opened at $59.47 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26. Liberty Broadband Corporation has a 12-month low of $57.35 and a 12-month high of $102.38. The firm has a 50-day moving average price of $60.90 and a 200 day moving average price of $78.11. The firm has a market capitalization of $8.53 billion, a P/E ratio of 7.85 and a beta of 1.00.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $1.37 by $1.31. The company had revenue of $261.00 million during the quarter, compared to analyst estimates of $251.70 million. Liberty Broadband had a net margin of 103.04% and a return on equity of 10.89%.

Liberty Broadband Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 2.9%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Liberty Broadband in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $100.67.

Liberty Broadband Company 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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.

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