Norges Bank Makes New Investment in Liberty Broadband Co. (NASDAQ:LBRDA)

Norges Bank purchased a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 213,775 shares of the company's stock, valued at approximately $15,896,000. Norges Bank owned about 0.15% of Liberty Broadband at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LBRDA. M&T Bank Corp lifted its holdings in Liberty Broadband by 3.6% during the fourth quarter. M&T Bank Corp now owns 4,562 shares of the company's stock valued at $339,000 after purchasing an additional 158 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Liberty Broadband by 1.9% during the 4th quarter. JPMorgan Chase & Co. now owns 14,857 shares of the company's stock valued at $1,105,000 after buying an additional 279 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Liberty Broadband by 10.7% during the 4th quarter. American Century Companies Inc. now owns 3,053 shares of the company's stock valued at $227,000 after buying an additional 296 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Liberty Broadband by 891.9% in the 4th quarter. Farther Finance Advisors LLC now owns 367 shares of the company's stock worth $27,000 after buying an additional 330 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Liberty Broadband in the 3rd quarter worth $30,000. Institutional investors own 10.29% of the company's stock.

Liberty Broadband Price Performance

NASDAQ LBRDA traded down $0.02 on Friday, reaching $75.57. The company had a trading volume of 82,912 shares, compared to its average volume of 154,281. The stock has a market capitalization of $10.83 billion, a PE ratio of 13.92 and a beta of 1.03. Liberty Broadband Co. has a 12 month low of $47.17 and a 12 month high of $100.44. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average price is $80.95 and its 200 day moving average price is $80.82.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.31. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The firm had revenue of $263.00 million for the quarter, compared to analysts' expectations of $252.50 million.

Wall Street Analysts Forecast Growth

Separately, Benchmark lowered their price objective on Liberty Broadband from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $86.20.

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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.