TD Asset Management Inc Buys 12,568 Shares of Liberty Broadband Corporation (NASDAQ:LBRDK)

Key Points

• TD Asset Management Inc increased its stake in Liberty Broadband Corporation by 15.4% in Q1, now owning approximately 94,360 shares valued at $8.02 million.
• Other institutional investors, including Deutsche Bank AG and Adage Capital Partners, have significantly boosted their holdings in Liberty Broadband, reflecting growing interest among hedge funds.
• Liberty Broadband recently reported an EPS of $1.87 and revenue of $256 million for the last quarter, with analysts projecting an EPS of 7.71 for the current fiscal year.

TD Asset Management Inc increased its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 15.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,360 shares of the company's stock after purchasing an additional 12,568 shares during the period. TD Asset Management Inc owned approximately 0.07% of Liberty Broadband worth $8,025,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Liberty Broadband during the 4th quarter worth approximately $949,000. American Century Companies Inc. increased its holdings in shares of Liberty Broadband by 13.3% during the fourth quarter. American Century Companies Inc. now owns 34,518 shares of the company's stock valued at $2,581,000 after acquiring an additional 4,039 shares in the last quarter. Sei Investments Co. raised its position in shares of Liberty Broadband by 5.0% during the fourth quarter. Sei Investments Co. now owns 19,534 shares of the company's stock worth $1,460,000 after purchasing an additional 939 shares during the period. LPL Financial LLC lifted its holdings in shares of Liberty Broadband by 11.6% in the 4th quarter. LPL Financial LLC now owns 5,755 shares of the company's stock worth $430,000 after purchasing an additional 599 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Liberty Broadband by 0.5% in the 4th quarter. JPMorgan Chase & Co. now owns 346,963 shares of the company's stock valued at $25,939,000 after purchasing an additional 1,806 shares during the period. 80.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Liberty Broadband Price Performance

Shares of LBRDK stock traded up $1.14 during trading hours on Tuesday, hitting $60.65. 1,359,574 shares of the company's stock were exchanged, compared to its average volume of 1,210,507. Liberty Broadband Corporation has a 12-month low of $58.35 and a 12-month high of $104.00. The company has a market capitalization of $8.69 billion, a PE ratio of 9.70 and a beta of 0.96. The business's 50 day simple moving average is $89.56 and its 200-day simple moving average is $85.75. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

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