Ridgewood Investments LLC Acquires New Shares in Liberty Broadband Corp Series C (NASDAQ:LBRDK)

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Ridgewood Investments LLC acquired a new stake in Liberty Broadband Corp Series C (NASDAQ:LBRDK) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,610 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors have also added to or reduced their stakes in LBRDK. Vanguard Group Inc. grew its position in shares of Liberty Broadband Corp Series C by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 13,206,492 shares of the company’s stock valued at $1,376,380,000 after purchasing an additional 319,646 shares in the last quarter. State Street Corp grew its position in shares of Liberty Broadband Corp Series C by 2.1% during the 3rd quarter. State Street Corp now owns 2,305,770 shares of the company’s stock valued at $241,345,000 after purchasing an additional 48,161 shares in the last quarter. River Road Asset Management LLC grew its position in shares of Liberty Broadband Corp Series C by 9.9% during the 3rd quarter. River Road Asset Management LLC now owns 872,889 shares of the company’s stock valued at $91,365,000 after purchasing an additional 78,967 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Liberty Broadband Corp Series C by 8.3% during the 3rd quarter. California Public Employees Retirement System now owns 847,309 shares of the company’s stock valued at $88,688,000 after purchasing an additional 65,044 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in shares of Liberty Broadband Corp Series C during the 2nd quarter valued at $82,656,000. Institutional investors and hedge funds own 54.80% of the company’s stock.

In related news, CEO Gregory B. Maffei sold 138,728 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $116.06, for a total value of $16,100,771.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.80% of the stock is currently owned by insiders.

A number of research firms have recently commented on LBRDK. Citigroup began coverage on shares of Liberty Broadband Corp Series C in a research report on Friday, October 4th. They set a “buy” rating and a $125.00 price target for the company. Zacks Investment Research upgraded shares of Liberty Broadband Corp Series C from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research report on Saturday, January 4th. TD Securities lowered shares of Liberty Broadband Corp Series C from a “buy” rating to a “hold” rating and set a $135.00 price target for the company. in a research report on Thursday, January 2nd. Finally, ValuEngine lowered shares of Liberty Broadband Corp Series C from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $129.75.

Shares of NASDAQ:LBRDK opened at $130.64 on Thursday. Liberty Broadband Corp Series C has a 52-week low of $72.19 and a 52-week high of $131.32. The firm has a fifty day moving average of $123.61 and a 200 day moving average of $111.78. The firm has a market capitalization of $23.55 billion, a PE ratio of 343.79 and a beta of 1.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.04 and a current ratio of 8.04.

Liberty Broadband Corp Series C (NASDAQ:LBRDK) last announced its earnings results on Friday, November 1st. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.29). Liberty Broadband Corp Series C had a return on equity of 0.38% and a net margin of 276.33%. The company had revenue of $3.71 million during the quarter. On average, sell-side analysts forecast that Liberty Broadband Corp Series C will post 0.98 EPS for the current fiscal year.

About Liberty Broadband Corp Series C

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.

Read More: Dividend Reinvestment Plan (DRIP)

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

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