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

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lee Danner & Bass Inc. purchased a new stake in Liberty Broadband during the fourth quarter valued at about $36,000. Jones Financial Companies Lllp raised its position in Liberty Broadband by 138.0% during the fourth quarter. Jones Financial Companies Lllp now owns 488 shares of the company's stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. Farther Finance Advisors LLC raised its position in Liberty Broadband by 327.4% during the fourth quarter. Farther Finance Advisors LLC now owns 530 shares of the company's stock valued at $40,000 after purchasing an additional 406 shares in the last quarter. Continuum Advisory LLC purchased a new stake in Liberty Broadband during the first quarter valued at about $58,000. Finally, Quarry LP raised its position in Liberty Broadband by 131.6% during 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. Hedge funds and other institutional investors own 80.22% of the company's stock.

Liberty Broadband Stock Up 2.0%

NASDAQ LBRDK traded up $1.72 during mid-day trading on Thursday, reaching $88.63. The stock had a trading volume of 926,126 shares, compared to its average volume of 1,085,120. Liberty Broadband Corporation has a 1 year low of $54.71 and a 1 year high of $104.00. The stock has a market cap of $12.70 billion, a PE ratio of 14.12 and a beta of 1.01. The company has a fifty day moving average price of $95.14 and a 200 day moving average price of $85.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.39 and a quick ratio of 1.39.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share for the quarter. The business had revenue of $256.00 million during the quarter. Liberty Broadband had a net margin of 88.10% and a return on equity of 9.24%. On average, research analysts expect that Liberty Broadband Corporation will post 7.71 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.