KLP Kapitalforvaltning AS Reduces Holdings in Liberty Broadband Corporation $LBRDA

KLP Kapitalforvaltning AS lessened its position in shares of Liberty Broadband Corporation (NASDAQ:LBRDA) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock after selling 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Liberty Broadband were worth $313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LBRDA. Farther Finance Advisors LLC lifted its position in shares of Liberty Broadband by 54.2% during the 1st quarter. Farther Finance Advisors LLC now owns 566 shares of the company’s stock valued at $48,000 after buying an additional 199 shares during the last quarter. Moran Wealth Management LLC raised its stake in shares of Liberty Broadband by 11.5% during the 1st quarter. Moran Wealth Management LLC now owns 36,684 shares of the company’s stock valued at $3,118,000 after purchasing an additional 3,776 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Liberty Broadband during the 1st quarter valued at $219,000. Teacher Retirement System of Texas bought a new stake in shares of Liberty Broadband during the 1st quarter valued at $376,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Liberty Broadband by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 51,500 shares of the company’s stock valued at $4,377,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Liberty Broadband Trading Down 0.9%

Shares of Liberty Broadband stock opened at $58.07 on Monday. Liberty Broadband Corporation has a 12-month low of $57.35 and a 12-month high of $102.38. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26. The stock has a market cap of $8.33 billion, a PE ratio of 7.66 and a beta of 1.00. The company has a 50-day moving average of $60.96 and a two-hundred day moving average of $77.40.

Liberty Broadband (NASDAQ:LBRDA) last issued its earnings results on Thursday, August 7th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $1.31. Liberty Broadband had a net margin of 103.04% and a return on equity of 10.89%. The company had revenue of $261.00 million during the quarter, compared to analysts’ expectations of $251.70 million.

Liberty Broadband Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, September 30th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Broadband in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.67.

Liberty Broadband Company 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.