Rangeley Capital LLC Acquires New Position in Liberty Broadband Co. (NASDAQ:LBRDA)

Rangeley Capital LLC bought a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,500 shares of the company’s stock, valued at approximately $1,227,000. Liberty Broadband accounts for 1.1% of Rangeley Capital LLC’s portfolio, making the stock its 26th largest holding.

Several other large investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its holdings in shares of Liberty Broadband by 116.6% in the third quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock worth $76,000 after buying an additional 533 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Liberty Broadband by 150.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,181 shares of the company’s stock valued at $321,000 after acquiring an additional 2,511 shares during the last quarter. Captrust Financial Advisors lifted its stake in Liberty Broadband by 58.4% in the 3rd quarter. Captrust Financial Advisors now owns 14,515 shares of the company’s stock worth $1,115,000 after purchasing an additional 5,353 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Liberty Broadband in the third quarter worth about $54,000. Finally, Quantinno Capital Management LP bought a new stake in Liberty Broadband in the 3rd quarter worth approximately $260,000. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Liberty Broadband Stock Performance

NASDAQ:LBRDA opened at $86.80 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $81.22 and its 200-day moving average price is $80.16. The company has a market cap of $12.44 billion, a P/E ratio of 15.99 and a beta of 1.03. Liberty Broadband Co. has a twelve month low of $47.17 and a twelve month high of $100.44.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.73 by $0.31. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The business had revenue of $263.00 million during the quarter, compared to analyst estimates of $252.50 million.

Analysts Set New Price Targets

Separately, Benchmark dropped their price target on shares of Liberty Broadband from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $86.20.

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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.