Bank of New York Mellon Corp Has $35.26 Million Stock Position in Liberty Broadband Corporation $LBRDK

Bank of New York Mellon Corp cut its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK) by 8.9% during the second quarter, Holdings Channel.com reports. The firm owned 358,436 shares of the company’s stock after selling 34,986 shares during the quarter. Bank of New York Mellon Corp’s holdings in Liberty Broadband were worth $35,263,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Liberty Broadband by 13.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,310,698 shares of the company’s stock worth $196,522,000 after buying an additional 275,354 shares in the last quarter. Madison Asset Management LLC grew its holdings in shares of Liberty Broadband by 8.5% in the 1st quarter. Madison Asset Management LLC now owns 1,781,745 shares of the company’s stock valued at $151,537,000 after acquiring an additional 140,307 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Liberty Broadband by 21.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,491,606 shares of the company’s stock valued at $126,861,000 after acquiring an additional 260,470 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Liberty Broadband by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,711 shares of the company’s stock worth $86,726,000 after acquiring an additional 47,167 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Liberty Broadband by 6,649.1% during the first quarter. Hsbc Holdings PLC now owns 878,124 shares of the company’s stock worth $73,923,000 after acquiring an additional 865,113 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LBRDK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Broadband in a research report on Friday, October 31st. Wall Street Zen downgraded Liberty Broadband from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Liberty Broadband Price Performance

NASDAQ:LBRDK opened at $47.39 on Friday. The firm’s 50-day simple moving average is $58.26 and its 200 day simple moving average is $74.77. Liberty Broadband Corporation has a 52 week low of $47.29 and a 52 week high of $104.00. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 8.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.24 and a current ratio of 0.24.

Liberty Broadband (NASDAQ:LBRDK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.57. The business had revenue of $257.00 million for the quarter, compared to the consensus estimate of $267.70 million. Liberty Broadband had a return on equity of 12.23% and a net margin of 105.04%. As a group, sell-side analysts predict that Liberty Broadband Corporation will post 7.71 earnings per share for the current year.

Liberty Broadband Company 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.