Liberty Broadband Corporation (NASDAQ:LBRDA) Shares Sold by Wittenberg Investment Management Inc.

Key Points

• Wittenberg Investment Management Inc. reduced its holdings in Liberty Broadband by 15.0%, now owning 81,555 shares worth approximately $6.93 million, marking it as the firm's 6th largest position.
• Liberty Broadband's recent earnings report showed earnings per share (EPS) of $1.87, significantly exceeding analysts' estimates of $1.20, with total revenue of $266 million for the quarter.
• The company has a market capitalization of $8.51 billion and has seen share price fluctuations, with a twelve-month low of $57.34 and a high of $102.38.

Wittenberg Investment Management Inc. cut its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 15.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,555 shares of the company's stock after selling 14,389 shares during the quarter. Liberty Broadband accounts for 3.1% of Wittenberg Investment Management Inc.'s holdings, making the stock its 6th largest position. Wittenberg Investment Management Inc. owned 0.06% of Liberty Broadband worth $6,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new position in Liberty Broadband in the first quarter valued at approximately $219,000. Rhumbline Advisers raised its holdings in shares of Liberty Broadband by 1.4% during the 1st quarter. Rhumbline Advisers now owns 21,081 shares of the company's stock worth $1,792,000 after buying an additional 290 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Liberty Broadband during the 1st quarter worth $376,000. Millennium Management LLC lifted its position in shares of Liberty Broadband by 142.9% during the 4th quarter. Millennium Management LLC now owns 56,387 shares of the company's stock worth $4,193,000 after buying an additional 33,174 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its stake in Liberty Broadband by 11.5% in the first quarter. Moran Wealth Management LLC now owns 36,684 shares of the company's stock valued at $3,118,000 after buying an additional 3,776 shares in the last quarter. 10.29% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Trading Down 1.0%

Shares of LBRDA stock opened at $59.34 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $8.51 billion, a P/E ratio of 9.48 and a beta of 0.95. Liberty Broadband Corporation has a twelve month low of $57.34 and a twelve month high of $102.38. The stock's fifty day simple moving average is $87.55 and its 200 day simple moving average is $84.67.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.67. Liberty Broadband had a net margin of 86.40% and a return on equity of 9.24%. The firm had revenue of $266.00 million for the quarter, compared to the consensus estimate of $248.60 million.

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. 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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