Wallace Capital Management Inc. Trims Holdings in Liberty Broadband Co. (NASDAQ:LBRDK)

Wallace Capital Management Inc. lowered its stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 103,912 shares of the company’s stock after selling 3,120 shares during the quarter. Liberty Broadband accounts for 1.1% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 17th largest position. Wallace Capital Management Inc.’s holdings in Liberty Broadband were worth $7,768,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in LBRDK. Vanguard Group Inc. raised its holdings in shares of Liberty Broadband by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 11,064,423 shares of the company’s stock worth $827,176,000 after acquiring an additional 95,599 shares during the period. Barclays PLC increased its position in Liberty Broadband by 6.4% during the third quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock worth $533,251,000 after purchasing an additional 415,496 shares during the last quarter. Deutsche Bank AG raised its stake in Liberty Broadband by 125.6% during the fourth quarter. Deutsche Bank AG now owns 3,060,143 shares of the company’s stock worth $228,776,000 after purchasing an additional 1,703,637 shares during the period. Finepoint Capital LP boosted its holdings in Liberty Broadband by 1.1% in the 4th quarter. Finepoint Capital LP now owns 2,015,710 shares of the company’s stock valued at $150,694,000 after purchasing an additional 21,200 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of Liberty Broadband in the 4th quarter valued at approximately $122,714,000. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Broadband Stock Performance

NASDAQ LBRDK opened at $99.08 on Tuesday. The stock has a fifty day simple moving average of $84.79 and a 200-day simple moving average of $82.87. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The stock has a market cap of $14.20 billion, a PE ratio of 18.25 and a beta of 1.02. Liberty Broadband Co. has a twelve month low of $49.38 and a twelve month high of $104.00.

Liberty Broadband (NASDAQ:LBRDK) last posted its earnings results on Wednesday, May 7th. The company reported $1.87 EPS for the quarter. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The company had revenue of $256.00 million for the quarter. Equities analysts anticipate that Liberty Broadband Co. will post 7.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Liberty Broadband in a research report on Friday. They set a “sell” rating on the stock.

About Liberty Broadband

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.