Utah Retirement Systems Cuts Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Utah Retirement Systems lessened its holdings in Liberty Broadband Co. (NASDAQ:LBRDK – Get Rating) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,177 shares of the company’s stock after selling 800 shares during the period. Utah Retirement Systems’ holdings in Liberty Broadband were worth $1,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LBRDK. Vanguard Group Inc. lifted its stake in Liberty Broadband by 0.4% in the first quarter. Vanguard Group Inc. now owns 12,706,439 shares of the company’s stock valued at $1,719,435,000 after purchasing an additional 48,029 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Liberty Broadband by 13.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,505,165 shares of the company’s stock valued at $752,258,000 after acquiring an additional 776,566 shares during the period. Goldman Sachs Group Inc. raised its holdings in Liberty Broadband by 49.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,645,933 shares of the company’s stock valued at $305,975,000 after acquiring an additional 881,341 shares during the period. FMR LLC raised its holdings in Liberty Broadband by 10.8% during the 2nd quarter. FMR LLC now owns 1,706,329 shares of the company’s stock valued at $197,320,000 after acquiring an additional 166,201 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Liberty Broadband by 88.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,696,237 shares of the company’s stock valued at $125,182,000 after acquiring an additional 796,293 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Liberty Broadband Stock Down 4.2 %

LBRDK opened at $76.79 on Monday. The business’s fifty day simple moving average is $88.43 and its 200 day simple moving average is $85.94. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.30. Liberty Broadband Co. has a 52 week low of $68.67 and a 52 week high of $142.55. The stock has a market cap of $11.23 billion, a PE ratio of 9.66 and a beta of 1.14.

Liberty Broadband (NASDAQ:LBRDK – Get Rating) last posted its earnings results on Friday, February 17th. The company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.54). The firm had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $234.74 million. Liberty Broadband had a return on equity of 14.08% and a net margin of 128.92%. As a group, research analysts expect that Liberty Broadband Co. will post 7.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LBRDK has been the topic of a number of analyst reports. Rosenblatt Securities lowered their target price on shares of Liberty Broadband from $133.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, February 24th. StockNews.com cut shares of Liberty Broadband from a “hold” rating to a “sell” rating in a report on Friday, November 18th. TD Securities decreased their price target on shares of Liberty Broadband from $175.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, February 21st. Finally, Citigroup upped their price target on shares of Liberty Broadband from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $132.00.

Liberty Broadband Company Profile

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Liberty Broadband Corp. operates as a holding company, which engages in the cable, broadband and mobile location technology businesses. It operates through its subsidiaries, Charter Communications, Inc and TruePosition, Inc The company was founded on March 28, 1991, and is headquartered in Englewood, CO.