Norges Bank Invests $222.07 Million in Liberty Broadband Co. (NASDAQ:LBRDK)


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Norges Bank bought a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,402,250 shares of the company’s stock, valued at approximately $222,074,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in shares of Liberty Broadband by 67.1% during the 4th quarter. Toronto Dominion Bank now owns 29,948 shares of the company’s stock worth $4,743,000 after purchasing an additional 12,030 shares in the last quarter. World Asset Management Inc boosted its stake in Liberty Broadband by 85.7% in the fourth quarter. World Asset Management Inc now owns 3,512 shares of the company’s stock valued at $556,000 after buying an additional 1,621 shares in the last quarter. 59 North Capital Management LP acquired a new stake in Liberty Broadband in the fourth quarter valued at about $24,772,000. Arizona State Retirement System boosted its stake in Liberty Broadband by 44.4% in the fourth quarter. Arizona State Retirement System now owns 47,023 shares of the company’s stock valued at $7,447,000 after buying an additional 14,456 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Liberty Broadband by 2.1% in the third quarter. California State Teachers Retirement System now owns 170,061 shares of the company’s stock valued at $24,297,000 after buying an additional 3,442 shares in the last quarter. 56.02% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on the company. Morgan Stanley raised their price objective on Liberty Broadband from $174.00 to $182.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 16th. Zacks Investment Research raised Liberty Broadband from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Wednesday, March 3rd. Finally, TD Securities raised Liberty Broadband from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $185.00 in a research note on Monday, March 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $174.60.

Shares of LBRDK opened at $148.39 on Thursday. Liberty Broadband Co. has a 1 year low of $112.26 and a 1 year high of $165.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 24.63 and a quick ratio of 24.63. The company has a market capitalization of $28.98 billion, a price-to-earnings ratio of 120.64 and a beta of 1.04. The business has a 50-day moving average of $151.49 and a 200-day moving average of $151.24.

Liberty Broadband (NASDAQ:LBRDK) last issued its quarterly earnings data on Thursday, February 25th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.38. Liberty Broadband had a return on equity of 2.12% and a net margin of 1,375.63%. As a group, sell-side analysts anticipate that Liberty Broadband Co. will post 1.79 EPS for the current year.

Liberty Broadband Company Profile

Liberty Broadband Corporation, a cable operator, provides video, Internet, and voice services to residential, and small and medium business customers in the United States. The company operates through Skyhook and Charter segments. The Skyhook segment offers Precision Location Solution, a location determination service for mobile device makers, wireless carriers, and asset tracking platforms to understand the precise geographic location and movement of mobile devices, as well as for enhancing the location determination capabilities of a hybrid location system.

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Institutional Ownership by Quarter for Liberty Broadband (NASDAQ:LBRDK)

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