Norges Bank Invests $100.85 Million in Liberty Broadband Co. (NASDAQ:LBRDK)

Norges Bank acquired a new stake in Liberty Broadband Co. (NASDAQ:LBRDK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,348,913 shares of the company’s stock, valued at approximately $100,845,000.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Liberty Broadband by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 346,963 shares of the company’s stock worth $25,939,000 after buying an additional 1,806 shares during the period. Banco BTG Pactual S.A. acquired a new stake in shares of Liberty Broadband during the fourth quarter worth $541,000. Aire Advisors LLC lifted its position in Liberty Broadband by 83.2% in the 4th quarter. Aire Advisors LLC now owns 29,880 shares of the company’s stock valued at $2,234,000 after acquiring an additional 13,569 shares in the last quarter. Vanguard Group Inc. boosted its stake in Liberty Broadband by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 11,064,423 shares of the company’s stock worth $827,176,000 after purchasing an additional 95,599 shares during the period. Finally, LPL Financial LLC increased its holdings in Liberty Broadband by 11.6% during the 4th quarter. LPL Financial LLC now owns 5,755 shares of the company’s stock worth $430,000 after purchasing an additional 599 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Price Performance

NASDAQ LBRDK opened at $85.53 on Wednesday. Liberty Broadband Co. has a 12-month low of $46.46 and a 12-month high of $101.50. The firm’s 50 day moving average is $81.60 and its 200-day moving average is $80.73. The company has a market capitalization of $12.25 billion, a PE ratio of 15.75 and a beta of 1.06. 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:LBRDK) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.04 EPS for the quarter, missing the consensus estimate of $3.67 by ($1.63). The business had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.50 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. Equities research analysts anticipate that Liberty Broadband Co. will post 7.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Liberty Broadband in a research report on Saturday. They set a “sell” rating for the company.

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.