Ruane Cunniff & Goldfarb L.P. Sells 28,715 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Ruane Cunniff & Goldfarb L.P. has reduced its holdings in Liberty Broadband Corporation by 1.2%, now owning 2,383,453 shares valued at approximately $202.71 million.
• Other institutional investors, such as Deutsche Bank AG and Dimensional Fund Advisors LP, have significantly increased their positions in Liberty Broadband, with Deutsche Bank boosting its stake by 125.6%.
• Analysts recently upgraded Liberty Broadband to a "hold" rating amid a volatile stock performance, which has seen prices ranging from $57.91 to $104.00 over the last 12 months.

Ruane Cunniff & Goldfarb L.P. cut its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,383,453 shares of the company's stock after selling 28,715 shares during the quarter. Liberty Broadband comprises 3.7% of Ruane Cunniff & Goldfarb L.P.'s investment portfolio, making the stock its 14th largest holding. Ruane Cunniff & Goldfarb L.P. owned approximately 1.66% of Liberty Broadband worth $202,713,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. SouthState Corp acquired a new position in shares of Liberty Broadband in the first quarter valued at $25,000. Vestor Capital LLC bought a new stake in shares of Liberty Broadband during the first quarter worth $44,000. Continuum Advisory LLC bought a new stake in shares of Liberty Broadband during the first quarter worth $58,000. Brooklyn Investment Group boosted its holdings in Liberty Broadband by 28.6% in the first quarter. Brooklyn Investment Group now owns 1,361 shares of the company's stock valued at $116,000 after acquiring an additional 303 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Liberty Broadband by 171.6% in the first quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock valued at $141,000 after acquiring an additional 1,047 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock traded up $0.39 during trading on Thursday, reaching $60.79. The company's stock had a trading volume of 841,355 shares, compared to its average volume of 1,231,314. The firm has a market cap of $8.72 billion, a PE ratio of 8.02 and a beta of 0.97. Liberty Broadband Corporation has a 52 week low of $57.75 and a 52 week high of $104.00. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. The business's 50-day moving average price is $71.51 and its 200-day moving average price is $82.23.

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.