Ruane Cunniff & Goldfarb L.P. cut its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 36.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,163,448 shares of the company's stock after selling 678,176 shares during the quarter. Liberty Broadband accounts for about 1.0% of Ruane Cunniff & Goldfarb L.P.'s portfolio, making the stock its 21st largest holding. Ruane Cunniff & Goldfarb L.P. owned about 0.81% of Liberty Broadband worth $58,521,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of LBRDK. Highlander Partners L.P. acquired a new stake in shares of Liberty Broadband in the fourth quarter worth $26,000. eCIO Inc. acquired a new position in Liberty Broadband during the fourth quarter valued at $30,000. Johnson Financial Group Inc. acquired a new position in Liberty Broadband during the third quarter valued at $42,000. Rothschild Investment LLC lifted its position in Liberty Broadband by 7,253.8% during the fourth quarter. Rothschild Investment LLC now owns 956 shares of the company's stock valued at $46,000 after purchasing an additional 943 shares during the period. Finally, Danske Bank A S purchased a new stake in Liberty Broadband in the third quarter valued at $51,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.
Liberty Broadband Price Performance
NASDAQ:LBRDK opened at $30.92 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -1.61 and a beta of 0.65. The company has a 50 day moving average price of $31.83 and a 200-day moving average price of $42.76. Liberty Broadband Corporation has a 1-year low of $26.25 and a 1-year high of $70.32.
Analyst Ratings Changes
Several equities research analysts have weighed in on LBRDK shares. Wall Street Zen raised Liberty Broadband from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a "sell (d)" rating on shares of Liberty Broadband in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".
Check Out Our Latest Stock Report on LBRDK
Liberty Broadband Profile
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Free Report)
Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.
The company's primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.
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