Venator Management LLC Sells 11,095 Shares of Liberty Broadband Co. (NASDAQ:LBRDA)

Venator Management LLC trimmed its stake in Liberty Broadband Co. (NASDAQ:LBRDA) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,085 shares of the company’s stock after selling 11,095 shares during the quarter. Liberty Broadband makes up about 1.1% of Venator Management LLC’s portfolio, making the stock its 16th biggest holding. Venator Management LLC’s holdings in Liberty Broadband were worth $3,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LBRDA. Virtu Financial LLC grew its position in shares of Liberty Broadband by 13.1% in the 2nd quarter. Virtu Financial LLC now owns 23,262 shares of the company’s stock valued at $1,270,000 after acquiring an additional 2,686 shares during the period. Dimensional Fund Advisors LP grew its holdings in Liberty Broadband by 38.3% during the second quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company’s stock worth $20,544,000 after purchasing an additional 104,268 shares during the period. Cowen AND Company LLC acquired a new position in Liberty Broadband during the second quarter worth approximately $4,445,000. Private Management Group Inc. raised its stake in Liberty Broadband by 29.8% in the second quarter. Private Management Group Inc. now owns 388,923 shares of the company’s stock valued at $21,235,000 after buying an additional 89,317 shares during the period. Finally, Arizona State Retirement System acquired a new stake in shares of Liberty Broadband in the second quarter valued at approximately $251,000. Institutional investors and hedge funds own 10.29% of the company’s stock.

Liberty Broadband Price Performance

NASDAQ:LBRDA opened at $61.43 on Thursday. The firm’s 50-day simple moving average is $60.50 and its 200 day simple moving average is $55.64. Liberty Broadband Co. has a 52 week low of $47.17 and a 52 week high of $95.08. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 10.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 1.68.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($1.76). The company 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 EPS.

Analysts Set New Price Targets

LBRDA has been the topic of several research analyst reports. Citigroup lowered shares of Liberty Broadband from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $67.00 to $57.00 in a research report on Wednesday, July 3rd. Evercore ISI lowered their price target on shares of 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 reduced their price objective 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 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.