Water Island Capital LLC Makes New Investment in Liberty Broadband Co. (NASDAQ:LBRDK)

Water Island Capital LLC acquired a new position in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 37,309 shares of the company's stock, valued at approximately $2,789,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LBRDK. Quarry LP acquired a new position in Liberty Broadband during the 3rd quarter valued at about $28,000. Smartleaf Asset Management LLC grew its stake 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 worth $30,000 after acquiring an additional 154 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Liberty Broadband by 134.3% in the fourth quarter. Blue Trust Inc. now owns 464 shares of the company's stock valued at $36,000 after purchasing an additional 266 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Liberty Broadband during the 4th quarter valued at $36,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Liberty Broadband by 138.0% during the 4th quarter. Jones Financial Companies Lllp now owns 488 shares of the company's stock worth $36,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 80.22% of the company's stock.

Liberty Broadband Price Performance

NASDAQ LBRDK traded up $1.98 during trading hours on Thursday, reaching $78.58. 216,987 shares of the stock traded hands, compared to its average volume of 835,025. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 14.47 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $101.50. The stock has a 50 day simple moving average of $81.66 and a two-hundred day simple moving average of $81.45.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.67 by ($1.63). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The company had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.50 million. On average, analysts predict that Liberty Broadband Co. will post 7.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Liberty Broadband in a research note on Monday. They set a "sell" rating for the company.

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.