Whittier Trust Co. Invests $129,000 in Liberty Broadband Co. (NASDAQ:LBRDA)

Whittier Trust Co. acquired a new position in Liberty Broadband Co. (NASDAQ:LBRDA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,370 shares of the company’s stock, valued at approximately $129,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Liberty Broadband by 16.4% during the second quarter. Bank of New York Mellon Corp now owns 55,883 shares of the company’s stock worth $3,051,000 after purchasing an additional 7,890 shares during the period. CWM LLC boosted its holdings in shares of Liberty Broadband by 112.6% during the 2nd quarter. CWM LLC now owns 1,352 shares of the company’s stock worth $74,000 after buying an additional 716 shares during the period. Comerica Bank raised its holdings in Liberty Broadband by 16.0% in the 1st quarter. Comerica Bank now owns 7,283 shares of the company’s stock worth $416,000 after acquiring an additional 1,003 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Liberty Broadband by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,838 shares of the company’s stock worth $505,000 after acquiring an additional 540 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in Liberty Broadband by 212,386.5% during the first quarter. Private Management Group Inc. now owns 299,606 shares of the company’s stock valued at $17,113,000 after acquiring an additional 299,465 shares during the period. 10.29% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Stock Performance

LBRDA opened at $61.93 on Friday. The stock’s 50 day simple moving average is $58.37 and its 200-day simple moving average is $55.69. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The stock has a market cap of $8.85 billion, a PE ratio of 10.51, a P/E/G ratio of 0.14 and a beta of 1.03. Liberty Broadband Co. has a 1 year low of $47.17 and a 1 year high of $95.43.

Liberty Broadband (NASDAQ:LBRDA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.12 by ($1.76). The business had revenue of $246.00 million during the quarter. Liberty Broadband had a net margin of 87.75% and a return on equity of 9.55%. During the same quarter in the previous year, the business earned $1.71 earnings per share. Sell-side analysts forecast that Liberty Broadband Co. will post 12.03 EPS for the current year.

Analyst Upgrades and Downgrades

LBRDA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Liberty Broadband from $104.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Citigroup lowered shares of Liberty Broadband from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $57.00 in a research report on Wednesday, July 3rd. Finally, Evercore ISI cut their price objective on shares of Liberty Broadband from $106.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd.

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.