Bank of New York Mellon Corp Trims Stock Position in Liberty Broadband Corporation (NASDAQ:LBRDK)

Bank of New York Mellon Corp reduced its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,422 shares of the company's stock after selling 7,442 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Liberty Broadband worth $33,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Liberty Broadband during the 4th quarter worth approximately $36,000. Jones Financial Companies Lllp grew its stake in 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 acquiring an additional 283 shares during the period. Farther Finance Advisors LLC grew its stake in Liberty Broadband by 327.4% in the fourth quarter. Farther Finance Advisors LLC now owns 530 shares of the company's stock valued at $40,000 after acquiring an additional 406 shares during the period. Continuum Advisory LLC bought a new stake in shares of Liberty Broadband in the first quarter valued at about $58,000. Finally, Quarry LP lifted its holdings in shares of Liberty Broadband by 131.6% in the fourth quarter. Quarry LP now owns 836 shares of the company's stock valued at $62,000 after purchasing an additional 475 shares in the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock traded down $0.38 on Friday, hitting $87.38. 1,880,315 shares of the company's stock were exchanged, compared to its average volume of 1,094,808. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.39. Liberty Broadband Corporation has a 1 year low of $54.71 and a 1 year high of $104.00. The company has a 50-day simple moving average of $94.91 and a 200-day simple moving average of $85.81. The stock has a market capitalization of $12.52 billion, a PE ratio of 13.96 and a beta of 1.01.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $256.00 million for the quarter. Liberty Broadband had a net margin of 88.10% and a return on equity of 9.24%. As a group, equities analysts anticipate that Liberty Broadband Corporation will post 7.71 EPS for the current year.

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.