Arizona State Retirement System Decreases Holdings in Liberty Broadband Co. (NASDAQ:LBRDK)

Arizona State Retirement System lowered its holdings in Liberty Broadband Co. (NASDAQ:LBRDK) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 32,624 shares of the company’s stock after selling 249 shares during the quarter. Arizona State Retirement System’s holdings in Liberty Broadband were worth $1,788,000 at the end of the most recent reporting period.

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

Liberty Broadband Trading Down 0.0 %

Shares of LBRDK opened at $59.56 on Thursday. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $95.53. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $8.51 billion, a P/E ratio of 10.11 and a beta of 1.02. The firm’s 50-day moving average is $60.66 and its two-hundred day moving average is $55.91.

Liberty Broadband (NASDAQ:LBRDK) last posted its earnings results on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm posted $1.71 earnings per share. On average, research analysts predict that Liberty Broadband Co. will post 9.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LBRDK shares. Rosenblatt Securities lifted their price objective on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley boosted their price target on Liberty Broadband from $62.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th.

Liberty Broadband Company 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.