Liberty Broadband (NASDAQ:LBRDA) Issues Quarterly Earnings Results

Liberty Broadband (NASDAQ:LBRDA) released its earnings results on Wednesday. The company reported ($14.86) earnings per share for the quarter, FiscalAI reports.

Liberty Broadband Trading Up 3.8%

NASDAQ:LBRDA traded up $1.23 on Wednesday, reaching $34.09. The company’s stock had a trading volume of 340,415 shares, compared to its average volume of 199,138. Liberty Broadband has a 1-year low of $26.14 and a 1-year high of $65.40. The business’s 50-day moving average price is $31.78 and its two-hundred day moving average price is $42.57. The firm has a market cap of $4.89 billion, a PE ratio of -1.78 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Liberty Broadband

Several institutional investors have recently modified their holdings of the business. Amundi grew its position in shares of Liberty Broadband by 6.5% in the 1st quarter. Amundi now owns 70,385 shares of the company’s stock valued at $3,535,000 after purchasing an additional 4,285 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Liberty Broadband by 114.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 602 shares of the company’s stock worth $30,000 after buying an additional 321 shares during the period. California State Teachers Retirement System raised its holdings in Liberty Broadband by 23.9% during the 1st quarter. California State Teachers Retirement System now owns 18,799 shares of the company’s stock worth $944,000 after buying an additional 3,632 shares during the period. Empowered Funds LLC bought a new position in Liberty Broadband in the first quarter valued at approximately $310,000. Finally, KCM Investment Advisors LLC bought a new position in Liberty Broadband in the first quarter valued at approximately $1,589,000. Institutional investors own 10.29% of the company’s stock.

Liberty Broadband Company 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.