Venator Management LLC Sells 7,000 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Venator Management LLC reduced its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 18.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,950 shares of the company’s stock after selling 7,000 shares during the period. Liberty Broadband accounts for 0.5% of Venator Management LLC’s portfolio, making the stock its 21st biggest holding. Venator Management LLC’s holdings in Liberty Broadband were worth $1,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in Liberty Broadband by 4,888.9% in the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company’s stock worth $25,000 after buying an additional 440 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Liberty Broadband in the second quarter worth about $36,000. Mather Group LLC. grew its position in shares of Liberty Broadband by 103.7% during the second quarter. Mather Group LLC. now owns 762 shares of the company’s stock worth $44,000 after purchasing an additional 388 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in Liberty Broadband by 88.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,700 shares of the company’s stock valued at $97,000 after purchasing an additional 800 shares during the period. Finally, CWM LLC lifted its holdings in Liberty Broadband by 163.7% in the 2nd quarter. CWM LLC now owns 2,255 shares of the company’s stock worth $124,000 after purchasing an additional 1,400 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LBRDK has been the subject of a number of research analyst reports. Rosenblatt Securities increased their price objective on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley upped their target price on shares of Liberty Broadband from $62.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th.

Liberty Broadband Price Performance

NASDAQ:LBRDK opened at $62.45 on Thursday. The business’s 50-day moving average is $61.49 and its 200 day moving average is $55.97. Liberty Broadband Co. has a 12 month low of $46.46 and a 12 month high of $95.53. The company has a market capitalization of $8.92 billion, a P/E ratio of 10.60 and a beta of 1.02. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39.

Liberty Broadband (NASDAQ:LBRDK) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($1.15). Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. The firm had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $244.25 million. During the same period last year, the company earned $1.71 earnings per share. On average, equities research analysts forecast that Liberty Broadband Co. will post 9.05 earnings per share for the current fiscal year.

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.