Highbridge Capital Management LLC Grows Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Highbridge Capital Management LLC increased its stake in Liberty Broadband Co. (NASDAQ:LBRDK) by 22.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,127,951 shares of the company’s stock after buying an additional 208,153 shares during the quarter. Liberty Broadband accounts for approximately 2.0% of Highbridge Capital Management LLC’s portfolio, making the stock its 8th largest holding. Highbridge Capital Management LLC’s holdings in Liberty Broadband were worth $61,834,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Liberty Broadband during the 4th quarter worth $104,363,000. Assenagon Asset Management S.A. raised its position 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 valued at $76,587,000 after purchasing an additional 1,131,743 shares during the period. Mango Investments LLC purchased a new stake in shares of Liberty Broadband during the 4th quarter valued at approximately $49,570,000. Whitebox Advisors LLC boosted its holdings 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, Dimensional Fund Advisors LP grew its stake in Liberty Broadband by 19.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock valued at $113,045,000 after buying an additional 330,159 shares in the last quarter. Institutional investors own 80.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Rosenblatt Securities increased their target price on Liberty Broadband from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley increased their price objective on Liberty Broadband from $62.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th.

Liberty Broadband Price Performance

Shares of NASDAQ LBRDK opened at $62.45 on Thursday. The stock’s 50-day simple moving average is $61.49 and its two-hundred day simple moving average is $55.97. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $95.53. The firm 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 quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.39.

Liberty Broadband (NASDAQ:LBRDK) last issued its quarterly 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 company had revenue of $246.00 million during the quarter, compared to the consensus estimate of $244.25 million. During the same period in the previous year, the company earned $1.71 EPS. As a group, equities analysts anticipate that Liberty Broadband Co. will post 9.05 EPS 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.