Victory Capital Management Inc. Decreases Holdings in Liberty Broadband Corp (LBRDA)
Victory Capital Management Inc. lessened its holdings in Liberty Broadband Corp (NASDAQ:LBRDA) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 345,100 shares of the company’s stock after selling 24,897 shares during the period. Victory Capital Management Inc.’s holdings in Liberty Broadband were worth $29,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in LBRDA. Teachers Advisors LLC boosted its holdings in Liberty Broadband by 1.1% in the second quarter. Teachers Advisors LLC now owns 29,879 shares of the company’s stock worth $2,563,000 after purchasing an additional 313 shares during the period. Amalgamated Bank acquired a new position in Liberty Broadband in the second quarter worth $213,000. UBS Asset Management Americas Inc. boosted its holdings in Liberty Broadband by 42.0% in the second quarter. UBS Asset Management Americas Inc. now owns 9,350 shares of the company’s stock worth $802,000 after purchasing an additional 2,764 shares during the period. Vanguard Group Inc. boosted its holdings in Liberty Broadband by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,748,982 shares of the company’s stock worth $150,045,000 after purchasing an additional 75,769 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Liberty Broadband by 0.9% in the second quarter. California Public Employees Retirement System now owns 55,600 shares of the company’s stock worth $4,770,000 after purchasing an additional 500 shares during the period. 12.29% of the stock is owned by hedge funds and other institutional investors.
In related news, Director John E. Welsh III acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were acquired at an average cost of $85.50 per share, for a total transaction of $171,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.09% of the stock is owned by insiders.
Liberty Broadband (NASDAQ:LBRDA) last posted its earnings results on Thursday, November 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). Liberty Broadband had a net margin of 142.91% and a return on equity of 0.22%. equities research analysts anticipate that Liberty Broadband Corp will post 0.09 EPS for the current fiscal year.
LBRDA has been the topic of a number of recent research reports. BidaskClub upgraded Liberty Broadband from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. raised their target price on Liberty Broadband from $108.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Pivotal Research raised their target price on Liberty Broadband from $108.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Finally, Buckingham Research initiated coverage on Liberty Broadband in a research note on Wednesday, December 13th. They issued a “buy” rating and a $119.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $117.50.
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About Liberty Broadband
Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook). The Company’s segments include Skyhook, Charter, and Corporate and other. Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.
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