Liberty Broadband Corporation $LBRDK Shares Sold by Ruane Cunniff & Goldfarb L.P.

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. decreased its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 holdings, making the stock its 14th largest position. Ruane Cunniff & Goldfarb L.P. owned 1.66% of Liberty Broadband worth $202,713,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in LBRDK. Mercer Global Advisors Inc. ADV purchased a new position in Liberty Broadband during the fourth quarter worth approximately $351,000. Ameriprise Financial Inc. lifted its position in Liberty Broadband by 0.5% during the fourth quarter. Ameriprise Financial Inc. now owns 27,909 shares of the company's stock worth $2,086,000 after buying an additional 131 shares in the last quarter. Baird Financial Group Inc. lifted its position in Liberty Broadband by 2.8% during the fourth quarter. Baird Financial Group Inc. now owns 27,163 shares of the company's stock worth $2,031,000 after buying an additional 752 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Liberty Broadband during the fourth quarter worth approximately $3,577,000. Finally, Deutsche Bank AG lifted its position in Liberty Broadband by 125.6% during the fourth quarter. Deutsche Bank AG now owns 3,060,143 shares of the company's stock worth $228,776,000 after buying an additional 1,703,637 shares in the last quarter. Hedge funds and other institutional investors own 80.22% of the company's stock.

Liberty Broadband Trading Down 0.1%

LBRDK stock traded down $0.08 during midday trading on Tuesday, hitting $60.46. 1,097,575 shares of the company's stock were exchanged, compared to its average volume of 1,114,112. The business has a 50-day simple moving average of $72.28 and a two-hundred day simple moving average of $82.38. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $8.68 billion, a PE ratio of 7.98 and a beta of 0.97. Liberty Broadband Corporation has a 1-year low of $57.75 and a 1-year high of $104.00.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Liberty Broadband to a "hold" rating in a research 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.