Ruane Cunniff & Goldfarb L.P. Lowers Stock Position in Liberty Broadband Corporation $LBRDA

Ruane Cunniff & Goldfarb L.P. lowered its position in Liberty Broadband Corporation (NASDAQ:LBRDA) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 652,780 shares of the company’s stock after selling 16,380 shares during the period. Liberty Broadband comprises about 0.5% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 22nd largest holding. Ruane Cunniff & Goldfarb L.P.’s holdings in Liberty Broadband were worth $31,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in LBRDA. Franklin Resources Inc. increased its holdings in Liberty Broadband by 66.2% during the second quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock worth $60,000 after buying an additional 245 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in Liberty Broadband by 22.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company’s stock worth $66,000 after buying an additional 248 shares during the last quarter. American Century Companies Inc. increased its holdings in Liberty Broadband by 8.3% during the second quarter. American Century Companies Inc. now owns 3,453 shares of the company’s stock worth $338,000 after buying an additional 265 shares during the last quarter. Cambria Investment Management L.P. increased its holdings in Liberty Broadband by 8.1% during the third quarter. Cambria Investment Management L.P. now owns 3,734 shares of the company’s stock worth $236,000 after buying an additional 280 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in Liberty Broadband by 2.0% during the second quarter. California State Teachers Retirement System now owns 15,195 shares of the company’s stock worth $1,486,000 after buying an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Liberty Broadband Price Performance

LBRDA opened at $34.12 on Friday. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -1.78 and a beta of 0.66. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $40.46 and a 200-day moving average price of $46.29. Liberty Broadband Corporation has a twelve month low of $29.59 and a twelve month high of $101.00.

Liberty Broadband (NASDAQ:LBRDA) last posted its earnings results on Tuesday, April 28th. The company reported $1.41 earnings per share for the quarter.

Liberty Broadband Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.