Ruane Cunniff & Goldfarb L.P. Has $11.24 Million Position in Liberty Broadband Corporation $LBRDA

Ruane Cunniff & Goldfarb L.P. cut its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDA) by 65.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 223,760 shares of the company’s stock after selling 429,020 shares during the period. Liberty Broadband comprises approximately 0.2% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 26th largest holding. Ruane Cunniff & Goldfarb L.P.’s holdings in Liberty Broadband were worth $11,237,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LBRDA. Empowered Funds LLC bought a new position in shares of Liberty Broadband in the 1st quarter valued at about $310,000. KCM Investment Advisors LLC bought a new stake in Liberty Broadband during the first quarter worth about $1,589,000. Quantinno Capital Management LP raised its holdings in Liberty Broadband by 47.8% during the first quarter. Quantinno Capital Management LP now owns 116,012 shares of the company’s stock worth $5,826,000 after acquiring an additional 37,519 shares in the last quarter. Gabelli Funds LLC boosted its position in Liberty Broadband by 40.5% during the first quarter. Gabelli Funds LLC now owns 95,023 shares of the company’s stock valued at $4,772,000 after purchasing an additional 27,373 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Liberty Broadband during the first quarter valued at approximately $6,278,000. 10.29% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Trading Up 6.7%

Shares of NASDAQ:LBRDA opened at $30.80 on Tuesday. Liberty Broadband Corporation has a 52-week low of $26.14 and a 52-week high of $70.47. The company has a market capitalization of $4.42 billion, a P/E ratio of -1.61 and a beta of 0.65. The company has a 50-day simple moving average of $31.79 and a 200 day simple moving average of $42.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.41 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Liberty Broadband Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.