Norges Bank Takes Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Norges Bank purchased a new position in shares of Liberty Broadband Co. (NASDAQ:LBRDK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,348,913 shares of the company’s stock, valued at approximately $100,845,000. Norges Bank owned about 0.94% of Liberty Broadband at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LBRDK. Barclays PLC raised its stake in shares of Liberty Broadband by 6.4% in the third quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock worth $533,251,000 after acquiring an additional 415,496 shares during the last quarter. ABC Arbitrage SA bought a new position in Liberty Broadband in the 4th quarter worth approximately $563,000. Wolverine Asset Management LLC lifted its holdings in Liberty Broadband by 458.8% during the 4th quarter. Wolverine Asset Management LLC now owns 9,499 shares of the company’s stock worth $710,000 after buying an additional 7,799 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Liberty Broadband by 54.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 294,641 shares of the company’s stock valued at $22,773,000 after buying an additional 104,272 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Liberty Broadband in the 4th quarter valued at $229,000. Institutional investors own 80.22% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Liberty Broadband in a report on Saturday. They issued a “sell” rating on the stock.

Liberty Broadband Trading Up 0.6 %

LBRDK opened at $85.53 on Wednesday. Liberty Broadband Co. has a fifty-two week low of $46.46 and a fifty-two week high of $101.50. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 15.75 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a 50 day simple moving average of $81.60 and a 200 day simple moving average of $80.73.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($1.63). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The company had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.50 million. On average, sell-side analysts anticipate that Liberty Broadband Co. will post 7.71 earnings per share for the current year.

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.