Liberty Broadband Corporation $LBRDA Stake Boosted by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Liberty Broadband Corporation by 4.1%, acquiring an additional 60,274 shares in the first quarter, bringing its total ownership to 1,523,068 shares valued at approximately $129.5 million.
• Liberty Broadband reported quarterly earnings of $2.68 per share, exceeding expectations of $1.37, along with a revenue of $261 million, surpassing the estimated $251.7 million.
• The company announced a quarterly dividend of $0.4375 per share, which will be paid on September 10th, reflecting an annualized dividend yield of 2.9%.

Vanguard Group Inc. raised its position in Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,523,068 shares of the company's stock after acquiring an additional 60,274 shares during the quarter. Vanguard Group Inc. owned 1.06% of Liberty Broadband worth $129,461,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in Liberty Broadband in the first quarter valued at approximately $219,000. Rhumbline Advisers boosted its stake in shares of Liberty Broadband by 1.4% during the 1st quarter. Rhumbline Advisers now owns 21,081 shares of the company's stock valued at $1,792,000 after buying an additional 290 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Liberty Broadband during the 1st quarter valued at approximately $376,000. Millennium Management LLC boosted its stake in shares of Liberty Broadband by 142.9% during the 4th quarter. Millennium Management LLC now owns 56,387 shares of the company's stock valued at $4,193,000 after buying an additional 33,174 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its stake in shares of Liberty Broadband by 11.5% during the 1st quarter. Moran Wealth Management LLC now owns 36,684 shares of the company's stock valued at $3,118,000 after buying an additional 3,776 shares during the last quarter. Institutional investors and hedge funds own 10.29% of the company's stock.

Liberty Broadband Stock Up 1.2%

Shares of Liberty Broadband stock traded up $0.73 on Wednesday, hitting $61.53. 69,410 shares of the company's stock traded hands, compared to its average volume of 164,359. The stock has a market cap of $8.83 billion, a P/E ratio of 8.12 and a beta of 0.95. 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 firm's 50-day moving average is $78.12 and its 200 day moving average is $82.94. Liberty Broadband Corporation has a 52-week low of $57.34 and a 52-week high of $102.38.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $2.68 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 return on equity of 10.89% and a net margin of 103.04%.

Liberty Broadband Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 2.8%.

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.