16,500 Shares in Liberty Broadband Co. (NASDAQ:LBRDA) Acquired by Rangeley Capital LLC

Rangeley Capital LLC bought a new stake in shares of Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,500 shares of the company's stock, valued at approximately $1,227,000. Liberty Broadband makes up about 1.1% of Rangeley Capital LLC's holdings, making the stock its 26th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Liberty Broadband by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,462,794 shares of the company's stock worth $108,773,000 after buying an additional 49,547 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Liberty Broadband in the 4th quarter worth about $35,441,000. Seizert Capital Partners LLC raised its holdings in shares of Liberty Broadband by 7.5% in the 4th quarter. Seizert Capital Partners LLC now owns 423,895 shares of the company's stock valued at $31,521,000 after acquiring an additional 29,477 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Liberty Broadband by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 249,612 shares of the company's stock valued at $18,575,000 after acquiring an additional 27,059 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Liberty Broadband during the fourth quarter worth about $15,896,000. 10.29% of the stock is currently owned by institutional investors.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock traded up $1.67 during trading on Tuesday, hitting $76.37. 81,430 shares of the stock traded hands, compared to its average volume of 152,425. The firm's fifty day moving average is $81.10 and its 200-day moving average is $80.67. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 14.04 and a beta of 1.03. Liberty Broadband Co. has a 52 week low of $47.17 and a 52 week 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.

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

Analysts Set New Price Targets

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

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. 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.