Weitz Investment Management Inc. Purchases Shares of 123,750 Liberty Broadband Corporation $LBRDA

Key Points

• Weitz Investment Management purchased 123,750 shares of Liberty Broadband during the second quarter, worth approximately $4.12 million and representing about 0.09% of the company.
• Other institutional investors also increased their holdings, but institutional ownership remains relatively low at 10.29% of outstanding shares.
• Liberty Broadband carries a consensus “Sell” rating, while LBRDA recently traded at $35.99—well below its 12-month high of $65.40.

Weitz Investment Management Inc. purchased a new position in shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 123,750 shares of the company's stock, valued at approximately $4,118,000. Weitz Investment Management Inc. owned about 0.09% of Liberty Broadband as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LBRDA. EverSource Wealth Advisors LLC boosted its holdings in shares of Liberty Broadband by 114.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 602 shares of the company's stock valued at $30,000 after buying an additional 321 shares during the last quarter. Comerica Bank raised its position in Liberty Broadband by 104.2% during the fourth quarter. Comerica Bank now owns 1,027 shares of the company's stock worth $50,000 after acquiring an additional 524 shares in the last quarter. Franklin Resources Inc. raised its position in Liberty Broadband by 66.2% during the second quarter. Franklin Resources Inc. now owns 615 shares of the company's stock worth $60,000 after acquiring an additional 245 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in Liberty Broadband by 22.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company's stock valued at $66,000 after acquiring an additional 248 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Liberty Broadband by 388.4% in the first quarter. Parallel Advisors LLC now owns 2,154 shares of the company's stock valued at $108,000 after acquiring an additional 1,713 shares during the last quarter. Institutional investors own 10.29% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Liberty Broadband from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell".

Liberty Broadband Stock Performance

LBRDA opened at $35.99 on Friday. Liberty Broadband Corporation has a 12-month low of $26.14 and a 12-month high of $65.40. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of -5.15 and a beta of 0.64. The business has a 50 day moving average of $32.73 and a 200-day moving average of $41.36. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.10.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter's Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.

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