GABELLI & Co INVESTMENT ADVISERS INC. Purchases New Holdings in Liberty Broadband Corporation $LBRDA

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Liberty Broadband Corporation (NASDAQ:LBRDA) in the first quarter, Holdings Channel reports. The firm acquired 125,000 shares of the company’s stock, valued at approximately $6,278,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LBRDA. Comerica Bank raised its stake in Liberty Broadband by 104.2% during the 4th quarter. Comerica Bank now owns 1,027 shares of the company’s stock valued at $50,000 after purchasing an additional 524 shares during the period. Franklin Resources Inc. boosted its position in shares of Liberty Broadband by 66.2% in the second quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock worth $60,000 after buying an additional 245 shares during the period. Federation des caisses Desjardins du Quebec boosted its position in shares of Liberty Broadband by 22.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company’s stock worth $66,000 after buying an additional 248 shares during the period. Parallel Advisors LLC grew its holdings in shares of Liberty Broadband by 388.4% during the first quarter. Parallel Advisors LLC now owns 2,154 shares of the company’s stock valued at $108,000 after buying an additional 1,713 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Liberty Broadband by 26.4% during the third quarter. CIBC Private Wealth Group LLC now owns 2,621 shares of the company’s stock valued at $166,000 after buying an additional 547 shares in the last quarter. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Broadband Stock Performance

LBRDA stock opened at $28.87 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $4.14 billion, a P/E ratio of -1.51 and a beta of 0.65. The firm has a 50 day simple moving average of $31.83 and a 200 day simple moving average of $42.85. Liberty Broadband Corporation has a 52 week low of $26.14 and a 52 week high of $76.50.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.41 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

About Liberty Broadband

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.