Gabelli Funds LLC Decreases Stake in Liberty Broadband Corporation $LBRDK

Gabelli Funds LLC lowered its position in Liberty Broadband Corporation (NASDAQ:LBRDK) by 7.5% in the fourth quarter, Holdings Channel reports. The fund owned 366,140 shares of the company’s stock after selling 29,759 shares during the period. Gabelli Funds LLC’s holdings in Liberty Broadband were worth $17,794,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Highlander Partners L.P. purchased a new position in Liberty Broadband in the fourth quarter worth approximately $26,000. eCIO Inc. purchased a new position in Liberty Broadband in the fourth quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new position in Liberty Broadband in the third quarter worth approximately $42,000. Danske Bank A S purchased a new position in Liberty Broadband in the third quarter worth approximately $51,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Liberty Broadband by 59.3% in the second quarter. EverSource Wealth Advisors LLC now owns 733 shares of the company’s stock worth $72,000 after acquiring an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Liberty Broadband Stock Up 0.8%

LBRDK stock opened at $33.02 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. Liberty Broadband Corporation has a twelve month low of $31.93 and a twelve month high of $101.85. The company’s 50 day moving average is $47.31 and its two-hundred day moving average is $48.57. The stock has a market cap of $4.74 billion, a P/E ratio of -1.72 and a beta of 0.70.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LBRDK shares. Wall Street Zen upgraded shares of Liberty Broadband from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company’s primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.