Arizona State Retirement System Buys Shares of 4,594 Liberty Broadband Co. (NASDAQ:LBRDA)

Arizona State Retirement System purchased a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,594 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors have also recently made changes to their positions in LBRDA. Principal Securities Inc. acquired a new stake in Liberty Broadband in the fourth quarter valued at approximately $51,000. Headlands Technologies LLC acquired a new stake in shares of Liberty Broadband in the 1st quarter worth $49,000. Spire Wealth Management grew its stake in Liberty Broadband by 9,080.0% during the 1st quarter. Spire Wealth Management now owns 918 shares of the company’s stock worth $52,000 after buying an additional 908 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Liberty Broadband during the 1st quarter worth $72,000. Finally, CWM LLC raised its stake in Liberty Broadband by 112.6% in the second quarter. CWM LLC now owns 1,352 shares of the company’s stock valued at $74,000 after buying an additional 716 shares during the last quarter. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Analysts Set New Price Targets

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

Liberty Broadband Trading Up 0.1 %

Shares of Liberty Broadband stock opened at $60.73 on Wednesday. Liberty Broadband Co. has a twelve month low of $47.17 and a twelve month high of $95.08. The firm’s 50-day moving average price is $60.31 and its 200 day moving average price is $55.60. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $8.68 billion, a PE ratio of 10.31 and a beta of 1.04.

Liberty Broadband (NASDAQ:LBRDA) last announced its 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 for the quarter. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same quarter in the previous year, the business posted $1.71 earnings per share.

Liberty Broadband Profile

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.