PNC Financial Services Group Inc. Lowers Stock Holdings in Liberty Broadband Co. (NASDAQ:LBRDA)

PNC Financial Services Group Inc. reduced its stake in Liberty Broadband Co. (NASDAQ:LBRDA) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,004 shares of the company’s stock after selling 411 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Liberty Broadband were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. M&T Bank Corp lifted its holdings in shares of Liberty Broadband by 3.6% in the 4th quarter. M&T Bank Corp now owns 4,562 shares of the company’s stock valued at $339,000 after buying an additional 158 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Liberty Broadband in the 3rd quarter valued at approximately $30,000. Glenmede Trust Co. NA lifted its holdings in shares of Liberty Broadband by 116.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock valued at $76,000 after buying an additional 533 shares during the period. Paloma Partners Management Co acquired a new position in Liberty Broadband during the third quarter worth $54,000. Finally, JPMorgan Chase & Co. raised its holdings in Liberty Broadband by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 14,578 shares of the company’s stock worth $1,120,000 after purchasing an additional 1,352 shares during the last quarter. 10.29% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Stock Performance

Shares of LBRDA stock opened at $83.42 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a fifty day moving average price of $79.50 and a 200 day moving average price of $78.54. The stock has a market cap of $11.95 billion, a PE ratio of 15.36 and a beta of 1.08. Liberty Broadband Co. has a 1 year low of $47.17 and a 1 year high of $100.44.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.31. The company had revenue of $263.00 million during the quarter, compared to the consensus estimate of $252.50 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%.

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. 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.