Liberty Broadband Corporation (NASDAQ:LBRDA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in Liberty Broadband Corporation (NASDAQ:LBRDA) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,152 shares of the company’s stock after selling 1,200 shares during the period. New York State Common Retirement Fund’s holdings in Liberty Broadband were worth $948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LBRDA. Sequoia Financial Advisors LLC purchased a new stake in Liberty Broadband in the 1st quarter valued at approximately $219,000. Rhumbline Advisers lifted its stake in Liberty Broadband by 1.4% in the 1st quarter. Rhumbline Advisers now owns 21,081 shares of the company’s stock valued at $1,792,000 after buying an additional 290 shares in the last quarter. Millennium Management LLC lifted its stake in Liberty Broadband by 142.9% in the 4th quarter. Millennium Management LLC now owns 56,387 shares of the company’s stock valued at $4,193,000 after buying an additional 33,174 shares in the last quarter. Moran Wealth Management LLC lifted its stake in Liberty Broadband by 11.5% in the 1st quarter. Moran Wealth Management LLC now owns 36,684 shares of the company’s stock valued at $3,118,000 after buying an additional 3,776 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Liberty Broadband in the 1st quarter valued at approximately $376,000. Institutional investors and hedge funds own 10.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Benchmark cut their price target on Liberty Broadband from $130.00 to $115.00 and set a “buy” rating for the company in a report on Monday, March 31st.

Liberty Broadband Stock Performance

Shares of LBRDA stock opened at $70.06 on Friday. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 11.19 and a beta of 1.00. Liberty Broadband Corporation has a one year low of $57.34 and a one year high of $102.38. The company’s 50-day simple moving average is $93.12 and its 200-day simple moving average is $85.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.39.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.67. The business had revenue of $266.00 million for the quarter, compared to analyst estimates of $248.60 million. Liberty Broadband had a net margin of 86.40% and a return on equity of 9.24%.

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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.