Platinum Investment Management Ltd. Sells 508 Shares of Liberty Broadband Co. (NASDAQ:LBRDK)

Platinum Investment Management Ltd. trimmed its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 22.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,747 shares of the company’s stock after selling 508 shares during the period. Platinum Investment Management Ltd.’s holdings in Liberty Broadband were worth $131,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of LBRDK. The Manufacturers Life Insurance Company lifted its stake in Liberty Broadband by 0.5% in the third quarter. The Manufacturers Life Insurance Company now owns 27,186 shares of the company’s stock valued at $2,101,000 after purchasing an additional 125 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Liberty Broadband by 61.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the company’s stock valued at $30,000 after acquiring an additional 154 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Liberty Broadband by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,757 shares of the company’s stock valued at $281,000 after buying an additional 199 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Liberty Broadband by 0.6% during the fourth quarter. Handelsbanken Fonder AB now owns 33,300 shares of the company’s stock worth $2,490,000 after purchasing an additional 200 shares during the period. Finally, Wealthspire Advisors LLC boosted its holdings in shares of Liberty Broadband by 5.7% during the fourth quarter. Wealthspire Advisors LLC now owns 4,543 shares of the company’s stock worth $340,000 after purchasing an additional 244 shares during the period. 80.22% of the stock is currently owned by institutional investors.

Liberty Broadband Stock Performance

Liberty Broadband stock opened at $81.95 on Wednesday. The company’s 50-day moving average price is $79.70 and its 200-day moving average price is $79.01. Liberty Broadband Co. has a twelve month low of $46.46 and a twelve month high of $101.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The company has a market cap of $11.74 billion, a PE ratio of 15.09 and a beta of 1.06.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($1.63). The business had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.50 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. On average, equities research analysts forecast that Liberty Broadband Co. will post 7.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Liberty Broadband in a report on Thursday, March 13th. They set a “sell” rating for the company.

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.