Ruane Cunniff & Goldfarb L.P. Lowers Stock Position in Liberty Broadband Corporation $LBRDA

Key Points

• Ruane Cunniff & Goldfarb L.P. reduced its stake in Liberty Broadband Corporation by 1.4%, holding approximately $57.30 million worth of shares.
• The company reported earnings of $2.68 per share, exceeding estimates and showcasing strong revenue growth with $261 million for the quarter.
• Liberty Broadband recently declared a quarterly dividend of $0.4375, representing an annualized yield of 2.9% for investors.

Ruane Cunniff & Goldfarb L.P. reduced its stake in Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 674,067 shares of the company's stock after selling 9,339 shares during the period. Liberty Broadband makes up 1.0% of Ruane Cunniff & Goldfarb L.P.'s portfolio, making the stock its 18th largest holding. Ruane Cunniff & Goldfarb L.P. owned approximately 0.47% of Liberty Broadband worth $57,296,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of LBRDA. Pentwater Capital Management LP raised its holdings in Liberty Broadband by 19.7% during the 1st quarter. Pentwater Capital Management LP now owns 122,100 shares of the company's stock valued at $10,378,000 after buying an additional 20,100 shares during the period. AQR Capital Management LLC boosted its stake in shares of Liberty Broadband by 35.0% during the 1st quarter. AQR Capital Management LLC now owns 16,572 shares of the company's stock worth $1,409,000 after purchasing an additional 4,298 shares during the period. Long Focus Capital Management LLC boosted its stake in shares of Liberty Broadband by 16.5% during the 1st quarter. Long Focus Capital Management LLC now owns 375,000 shares of the company's stock worth $31,875,000 after purchasing an additional 53,200 shares during the period. Ieq Capital LLC purchased a new position in shares of Liberty Broadband during the 1st quarter worth about $208,000. Finally, Westchester Capital Management LLC purchased a new position in shares of Liberty Broadband during the 1st quarter worth about $19,622,000. 10.29% of the stock is currently owned by institutional investors.

Liberty Broadband Trading Up 0.8%

Shares of LBRDA stock traded up $0.48 during trading hours on Thursday, reaching $60.48. 56,115 shares of the stock were exchanged, compared to its average volume of 152,602. Liberty Broadband Corporation has a 12-month low of $57.35 and a 12-month high of $102.38. 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 company's 50-day moving average price is $71.20 and its 200-day moving average price is $81.59. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 7.98 and a beta of 0.96.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $1.31. The company had revenue of $261.00 million during the quarter, compared to analysts' expectations of $251.70 million. Liberty Broadband had a net margin of 103.04% and a return on equity of 10.89%.

Liberty Broadband Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, September 30th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 2.9%.

About Liberty Broadband

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.