Bank of New York Mellon Corp Increases Stock Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Bank of New York Mellon Corp increased its position in Liberty Broadband Co. (NASDAQ:LBRDK) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,864 shares of the company’s stock after buying an additional 23,810 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Liberty Broadband worth $29,969,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of Liberty Broadband by 23.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,585,407 shares of the company’s stock worth $268,045,000 after acquiring an additional 686,089 shares in the last quarter. Barclays PLC increased its position in shares of Liberty Broadband by 6.4% in the third quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock worth $533,251,000 after acquiring an additional 415,496 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Liberty Broadband by 63.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 940,168 shares of the company’s stock worth $72,666,000 after acquiring an additional 366,614 shares in the last quarter. FMR LLC increased its position in shares of Liberty Broadband by 104.4% in the third quarter. FMR LLC now owns 563,964 shares of the company’s stock worth $43,589,000 after acquiring an additional 288,078 shares in the last quarter. Finally, Isomer Partners LP acquired a new stake in shares of Liberty Broadband in the third quarter worth $20,095,000. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Price Performance

NASDAQ LBRDK opened at $87.13 on Friday. The business’s fifty day moving average is $78.88 and its two-hundred day moving average is $77.96. The stock has a market capitalization of $12.45 billion, a P/E ratio of 16.05 and a beta of 1.06. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $101.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.63). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The business had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.50 million. On average, research analysts forecast that Liberty Broadband Co. will post 7.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Liberty Broadband in a research report on Wednesday. They issued a “sell” rating for the company.

Insider Transactions at Liberty Broadband

In related news, CEO Gregory B. Maffei sold 71,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $82.00, for a total value of $5,863,000.00. Following the transaction, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at approximately $231,815,066. This trade represents a 2.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.80% of the stock is currently owned by company insiders.

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.