Ruane Cunniff & Goldfarb L.P. Has $11.24 Million Stake in Liberty Broadband Corporation $LBRDA

Ruane Cunniff & Goldfarb L.P. reduced its holdings in Liberty Broadband Corporation (NASDAQ:LBRDA) by 65.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,760 shares of the company’s stock after selling 429,020 shares during the quarter. Liberty Broadband accounts for about 0.2% of Ruane Cunniff & Goldfarb L.P.’s investment portfolio, making the stock its 26th largest holding. Ruane Cunniff & Goldfarb L.P. owned about 0.16% of Liberty Broadband worth $11,237,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Liberty Broadband by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 1,679,806 shares of the company’s stock valued at $81,101,000 after purchasing an additional 91,276 shares during the period. Virtu Financial LLC raised its holdings in Liberty Broadband by 234.5% during the 4th quarter. Virtu Financial LLC now owns 42,920 shares of the company’s stock worth $2,072,000 after buying an additional 30,088 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Liberty Broadband during the 1st quarter worth approximately $6,278,000. UBS Group AG lifted its stake in Liberty Broadband by 390.6% in the fourth quarter. UBS Group AG now owns 222,860 shares of the company’s stock valued at $10,760,000 after buying an additional 177,431 shares in the last quarter. Finally, Verition Fund Management LLC lifted its stake in Liberty Broadband by 37.9% in the fourth quarter. Verition Fund Management LLC now owns 404,192 shares of the company’s stock valued at $19,514,000 after buying an additional 111,105 shares in the last quarter. Institutional investors and hedge funds own 10.29% of the company’s stock.

Liberty Broadband Stock Up 6.7%

LBRDA stock opened at $30.80 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $4.42 billion, a P/E ratio of -1.61 and a beta of 0.65. The business has a 50-day moving average of $31.79 and a 200-day moving average of $42.68. Liberty Broadband Corporation has a fifty-two week low of $26.14 and a fifty-two week high of $70.47.

Liberty Broadband (NASDAQ:LBRDA) last announced its earnings results on Tuesday, April 28th. The company reported $1.41 earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Liberty Broadband currently has a consensus rating of “Sell”.

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.