Wittenberg Investment Management Inc. Lowers Stock Position in Liberty Broadband Corporation (NASDAQ:LBRDK)

Key Points

• Wittenberg Investment Management Inc. reduced its stake in Liberty Broadband Corporation by 13.8%, holding 34,460 shares valued at approximately $2.93 million, making it the company's 13th largest holding.
• Liberty Broadband Corporation reported a quarterly EPS of $1.87 and revenue of $256 million with a net margin of 88.10% for the quarter ending May 7th.
• Institutional investors currently own 80.22% of Liberty Broadband's stock, reflecting growing interest as Vestor Capital LLC and Continuum Advisory LLC entered new positions in the first quarter.

Wittenberg Investment Management Inc. cut its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 13.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,460 shares of the company's stock after selling 5,529 shares during the quarter. Liberty Broadband makes up about 1.3% of Wittenberg Investment Management Inc.'s holdings, making the stock its 13th biggest holding. Wittenberg Investment Management Inc.'s holdings in Liberty Broadband were worth $2,931,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LBRDK. Vestor Capital LLC bought a new position in shares of Liberty Broadband during the first quarter valued at approximately $44,000. Continuum Advisory LLC bought a new stake in shares of Liberty Broadband during the first quarter valued at approximately $58,000. Quarry LP raised its holdings in Liberty Broadband by 131.6% in the 4th quarter. Quarry LP now owns 836 shares of the company's stock worth $62,000 after acquiring an additional 475 shares during the last quarter. Versant Capital Management Inc lifted its position in Liberty Broadband by 171.6% in the 1st quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock valued at $141,000 after acquiring an additional 1,047 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Liberty Broadband by 6.4% in the 1st quarter. CWM LLC now owns 2,309 shares of the company's stock worth $196,000 after purchasing an additional 138 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors.

Liberty Broadband Trading Down 1.1%

LBRDK opened at $59.57 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.39. The stock's 50 day moving average price is $88.10 and its 200-day moving average price is $85.39. Liberty Broadband Corporation has a one year low of $58.35 and a one year high of $104.00. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 9.52 and a beta of 0.96.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Liberty Broadband to a "hold" rating in a report on Saturday, July 12th.

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.

Want to see what other hedge funds are holding LBRDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.