Wallace Capital Management Inc. Lowers Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Wallace Capital Management Inc. trimmed its position in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,912 shares of the company's stock after selling 3,120 shares during the quarter. Liberty Broadband makes up 1.1% of Wallace Capital Management Inc.'s investment portfolio, making the stock its 17th largest position. Wallace Capital Management Inc. owned approximately 0.07% of Liberty Broadband worth $7,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Liberty Broadband by 61.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the company's stock valued at $30,000 after purchasing an additional 154 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Liberty Broadband by 134.3% in the 4th quarter. Blue Trust Inc. now owns 464 shares of the company's stock valued at $36,000 after purchasing an additional 266 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Liberty Broadband in the 4th quarter valued at $36,000. Jones Financial Companies Lllp raised its holdings in shares of Liberty Broadband by 138.0% in the 4th quarter. Jones Financial Companies Lllp now owns 488 shares of the company's stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Liberty Broadband in the 4th quarter valued at $37,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Stock Down 0.8%

NASDAQ:LBRDK traded down $0.77 during midday trading on Friday, hitting $96.16. 947,807 shares of the company were exchanged, compared to its average volume of 1,033,648. The company has a fifty day simple moving average of $86.13 and a 200 day simple moving average of $83.03. Liberty Broadband Co. has a fifty-two week low of $49.38 and a fifty-two week high of $104.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $13.78 billion, a PE ratio of 17.71 and a beta of 1.02.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.87 earnings per share (EPS) for the quarter. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The company had revenue of $256.00 million for the quarter. As a group, equities analysts anticipate that Liberty Broadband Co. will post 7.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on shares of Liberty Broadband in a report on Friday, May 16th. They issued a "sell" rating on the stock.

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.