New York State Common Retirement Fund Decreases Stock Holdings in Liberty Broadband Co. (NASDAQ:LBRDK)

New York State Common Retirement Fund reduced its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,988 shares of the company’s stock after selling 11,524 shares during the period. New York State Common Retirement Fund owned 0.06% of Liberty Broadband worth $6,930,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LBRDK. Barclays PLC raised its stake in Liberty Broadband by 315.0% during the third quarter. Barclays PLC now owns 2,675,919 shares of the company’s stock worth $244,364,000 after purchasing an additional 2,031,168 shares during the period. UBS Group AG lifted its holdings in Liberty Broadband by 21.7% in the third quarter. UBS Group AG now owns 8,626,349 shares of the company’s stock valued at $787,758,000 after acquiring an additional 1,536,718 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Liberty Broadband by 179.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,334,499 shares of the company’s stock worth $107,547,000 after acquiring an additional 857,187 shares during the period. Aristeia Capital LLC increased its stake in Liberty Broadband by 6.0% during the third quarter. Aristeia Capital LLC now owns 6,435,596 shares of the company’s stock worth $587,699,000 after acquiring an additional 363,554 shares during the last quarter. Finally, CQS US LLC raised its position in Liberty Broadband by 52.2% in the third quarter. CQS US LLC now owns 573,265 shares of the company’s stock valued at $52,351,000 after purchasing an additional 196,525 shares during the period. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Stock Up 0.8 %

Shares of NASDAQ LBRDK opened at $51.88 on Friday. Liberty Broadband Co. has a 52-week low of $46.46 and a 52-week high of $95.68. The business’s 50 day moving average is $54.43 and its two-hundred day moving average is $69.89. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 11.11 and a beta of 0.97. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.42.

Liberty Broadband (NASDAQ:LBRDK) last announced its earnings results on Friday, February 16th. The company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($1.23). The firm had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $227.82 million. Liberty Broadband had a net margin of 70.13% and a return on equity of 7.76%. Research analysts predict that Liberty Broadband Co. will post 10.14 EPS for the current year.

Insider Activity

In other news, Director J David Wargo sold 9,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $56.80, for a total transaction of $511,200.00. Following the sale, the director now owns 97,332 shares of the company’s stock, valued at $5,528,457.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 45,000 shares of company stock valued at $2,435,830. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their price target on Liberty Broadband from $108.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, February 7th.

About Liberty Broadband

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.