Victory Capital Management Inc. Reduces Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Victory Capital Management Inc. reduced its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 44.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,677 shares of the company’s stock after selling 13,248 shares during the period. Victory Capital Management Inc.’s holdings in Liberty Broadband were worth $914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Liberty Broadband in the fourth quarter worth $104,363,000. Assenagon Asset Management S.A. grew its holdings in shares of Liberty Broadband by 426.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,397,069 shares of the company’s stock worth $76,587,000 after purchasing an additional 1,131,743 shares during the last quarter. Mango Investments LLC bought a new position in shares of Liberty Broadband in the fourth quarter worth about $49,570,000. Whitebox Advisors LLC increased its stake in Liberty Broadband by 17.9% in the 1st quarter. Whitebox Advisors LLC now owns 2,300,322 shares of the company’s stock worth $131,647,000 after buying an additional 349,400 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Liberty Broadband by 147.6% during the 2nd quarter. Natixis Advisors LLC now owns 425,921 shares of the company’s stock valued at $23,349,000 after buying an additional 253,884 shares in the last quarter. 80.22% of the stock is owned by institutional investors.

Liberty Broadband Stock Down 1.0 %

Shares of Liberty Broadband stock opened at $60.32 on Friday. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $95.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 10.24 and a beta of 1.02. The firm’s 50-day moving average is $61.72 and its two-hundred day moving average is $56.02.

Liberty Broadband (NASDAQ:LBRDK) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($1.15). Liberty Broadband had a net margin of 81.86% and a return on equity of 8.79%. The business had revenue of $246.00 million for the quarter, compared to the consensus estimate of $244.25 million. During the same quarter in the prior year, the business posted $1.71 earnings per share. As a group, research analysts expect that Liberty Broadband Co. will post 9.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on LBRDK. Morgan Stanley raised 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. Rosenblatt Securities increased their price objective on Liberty Broadband from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th.

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.