Virtu Financial LLC Cuts Position in Liberty Broadband Co. (NASDAQ:LBRDA)

Virtu Financial LLC cut its stake in Liberty Broadband Co. (NASDAQ:LBRDA) by 23.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,576 shares of the company’s stock after selling 6,323 shares during the quarter. Virtu Financial LLC’s holdings in Liberty Broadband were worth $1,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Liberty Broadband by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,564,367 shares of the company’s stock worth $142,217,000 after buying an additional 48,811 shares during the last quarter. Raymond James & Associates grew its stake in Liberty Broadband by 4.7% during the 4th quarter. Raymond James & Associates now owns 6,739 shares of the company’s stock worth $543,000 after buying an additional 301 shares during the last quarter. Bislett Management LLC grew its stake in Liberty Broadband by 16.0% during the 4th quarter. Bislett Management LLC now owns 145,000 shares of the company’s stock worth $11,693,000 after buying an additional 20,000 shares during the last quarter. Strs Ohio grew its stake in Liberty Broadband by 14.7% during the 4th quarter. Strs Ohio now owns 20,292 shares of the company’s stock worth $1,636,000 after buying an additional 2,605 shares during the last quarter. Finally, Viewpoint Investment Partners Corp purchased a new position in Liberty Broadband during the 4th quarter worth $484,000. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Broadband Stock Performance

LBRDA traded down $0.81 on Friday, reaching $65.02. 98,807 shares of the stock were exchanged, compared to its average volume of 147,628. The company’s 50-day moving average price is $54.45 and its 200 day moving average price is $57.29. Liberty Broadband Co. has a fifty-two week low of $47.17 and a fifty-two week high of $95.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market capitalization of $9.29 billion, a PE ratio of 11.01, a PEG ratio of 0.14 and a beta of 1.03.

Liberty Broadband (NASDAQ:LBRDA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($1.11). Liberty Broadband had a return on equity of 9.55% and a net margin of 87.75%. The firm had revenue of $245.00 million for the quarter, compared to analyst estimates of $248.46 million. As a group, sell-side analysts forecast that Liberty Broadband Co. will post 12.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LBRDA shares. Evercore ISI dropped their target price on Liberty Broadband from $106.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Citigroup cut Liberty Broadband from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $57.00 in a research report on Wednesday, July 3rd.

Liberty Broadband 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.