Liberty Broadband Co. (NASDAQ:LBRDK) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Liberty Broadband Co. (NASDAQ:LBRDKGet Rating) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,711 shares of the company’s stock after acquiring an additional 1,996 shares during the period. Envestnet Asset Management Inc.’s holdings in Liberty Broadband were worth $15,523,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BW Gestao de Investimentos Ltda. acquired a new stake in Liberty Broadband in the first quarter valued at $9,171,000. Seizert Capital Partners LLC raised its holdings in Liberty Broadband by 15.5% in the first quarter. Seizert Capital Partners LLC now owns 157,410 shares of the company’s stock valued at $21,301,000 after acquiring an additional 21,104 shares in the last quarter. FDx Advisors Inc. raised its holdings in Liberty Broadband by 9.7% in the first quarter. FDx Advisors Inc. now owns 4,425 shares of the company’s stock valued at $599,000 after acquiring an additional 392 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Liberty Broadband by 3.9% in the first quarter. Gilbert & Cook Inc. now owns 2,747 shares of the company’s stock valued at $372,000 after acquiring an additional 102 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Liberty Broadband during the first quarter worth $470,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LBRDK has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Liberty Broadband from $124.00 to $139.00 and gave the stock an “equal weight” rating in a report on Thursday, June 2nd. Rosenblatt Securities initiated coverage on shares of Liberty Broadband in a report on Tuesday, April 19th. They set a “buy” rating and a $222.00 target price on the stock. TheStreet cut shares of Liberty Broadband from a “b-” rating to a “c+” rating in a report on Monday, May 16th. Pivotal Research dropped their target price on shares of Liberty Broadband to $160.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Finally, TD Securities dropped their target price on shares of Liberty Broadband from $200.00 to $185.00 in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.50.

Liberty Broadband Stock Up 1.3 %

LBRDK stock opened at $113.76 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. Liberty Broadband Co. has a fifty-two week low of $102.14 and a fifty-two week high of $194.05. The firm’s 50-day simple moving average is $116.91 and its 200 day simple moving average is $129.34. The stock has a market cap of $18.52 billion, a PE ratio of 20.80 and a beta of 0.91.

Liberty Broadband (NASDAQ:LBRDKGet Rating) last released its quarterly earnings data on Friday, May 6th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.04. Liberty Broadband had a net margin of 99.93% and a return on equity of 9.79%. The business had revenue of $238.00 million for the quarter, compared to analysts’ expectations of $244.27 million. During the same quarter last year, the company earned $0.83 EPS. As a group, sell-side analysts predict that Liberty Broadband Co. will post 7.04 EPS for the current year.

Insider Activity at Liberty Broadband

In related news, Director J David Wargo bought 300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was purchased at an average price of $110.76 per share, for a total transaction of $33,228.00. Following the transaction, the director now directly owns 32,214 shares of the company’s stock, valued at approximately $3,568,022.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.80% of the stock is currently owned by insiders.

Liberty Broadband Company Profile

(Get Rating)

Liberty Broadband Corporation engages in the communications businesses. It operates through GCI Holdings and Charter segments. The GCI Holdings segment provides a range of wireless, data, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions primarily in Alaska under the GCI brand.

Further Reading

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Institutional Ownership by Quarter for Liberty Broadband (NASDAQ:LBRDK)

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