Wittenberg Investment Management Inc. Decreases Position in Liberty Broadband Co. (NASDAQ:LBRDA)

Wittenberg Investment Management Inc. cut its position in shares of Liberty Broadband Co. (NASDAQ:LBRDA - Free Report) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,944 shares of the company's stock after selling 30,755 shares during the period. Liberty Broadband accounts for about 2.8% of Wittenberg Investment Management Inc.'s investment portfolio, making the stock its 7th largest position. Wittenberg Investment Management Inc. owned approximately 0.07% of Liberty Broadband worth $7,134,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Glenmede Trust Co. NA grew its holdings in Liberty Broadband by 116.6% during the third quarter. Glenmede Trust Co. NA now owns 990 shares of the company's stock valued at $76,000 after purchasing an additional 533 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Liberty Broadband by 150.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,181 shares of the company's stock worth $321,000 after purchasing an additional 2,511 shares during the period. Captrust Financial Advisors increased its stake in Liberty Broadband by 58.4% during the third quarter. Captrust Financial Advisors now owns 14,515 shares of the company's stock valued at $1,115,000 after acquiring an additional 5,353 shares during the period. Paloma Partners Management Co acquired a new position in shares of Liberty Broadband in the third quarter valued at $54,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Liberty Broadband during the 3rd quarter valued at about $260,000. Institutional investors own 10.29% of the company's stock.

Liberty Broadband Price Performance

LBRDA stock traded down $0.52 during midday trading on Wednesday, reaching $71.77. 95,273 shares of the company's stock traded hands, compared to its average volume of 152,828. 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 company has a market cap of $10.28 billion, a price-to-earnings ratio of 13.23 and a beta of 1.03. The company has a 50-day simple moving average of $80.80 and a two-hundred day simple moving average of $80.70. Liberty Broadband Co. has a 1-year low of $47.17 and a 1-year high of $100.44.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last issued its quarterly 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. The business had revenue of $263.00 million for the quarter, compared to the consensus estimate of $252.50 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%.

Analysts Set New Price Targets

Separately, Benchmark lowered their price target 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $86.20.

Liberty Broadband 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.