Renaissance Technologies LLC Grows Stock Holdings in Liberty Broadband Co. (NASDAQ:LBRDA)

Renaissance Technologies LLC boosted its position in shares of Liberty Broadband Co. (NASDAQ:LBRDA) by 122.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,700 shares of the company’s stock after acquiring an additional 54,400 shares during the quarter. Renaissance Technologies LLC owned 0.07% of Liberty Broadband worth $7,339,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new position in shares of Liberty Broadband during the fourth quarter worth about $35,441,000. Norges Bank acquired a new position in shares of Liberty Broadband during the fourth quarter worth $15,896,000. Virtu Financial LLC increased its holdings in Liberty Broadband by 199.4% in the fourth quarter. Virtu Financial LLC now owns 107,135 shares of the company’s stock valued at $7,967,000 after buying an additional 71,354 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Liberty Broadband in the fourth quarter valued at $4,390,000. Finally, Vanguard Group Inc. lifted its holdings in Liberty Broadband by 3.5% during the 4th 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 during the last quarter. 10.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Benchmark decreased their target price on Liberty Broadband from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.20.

Liberty Broadband Stock Up 2.4 %

Shares of NASDAQ LBRDA opened at $77.30 on Friday. 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 Co. has a 52-week low of $47.17 and a 52-week high of $100.44. The business has a 50-day moving average price of $80.95 and a 200 day moving average price of $80.79. The stock has a market cap of $11.08 billion, a PE ratio of 14.24 and a beta of 1.03.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.04 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $252.50 million.

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.