Rangeley Capital LLC Invests $1.23 Million in Liberty Broadband Co. (NASDAQ:LBRDA)

Rangeley Capital LLC purchased a new stake in Liberty Broadband Co. (NASDAQ:LBRDA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 16,500 shares of the company’s stock, valued at approximately $1,227,000. Liberty Broadband makes up about 1.1% of Rangeley Capital LLC’s investment portfolio, making the stock its 26th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Liberty Broadband during the third quarter worth approximately $1,815,000. Barclays PLC grew its stake in shares of Liberty Broadband by 244.6% in the third quarter. Barclays PLC now owns 4,887 shares of the company’s stock valued at $375,000 after buying an additional 3,469 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Liberty Broadband during the 3rd quarter valued at about $1,235,000. Seizert Capital Partners LLC lifted its position in Liberty Broadband by 7.5% during the 4th quarter. Seizert Capital Partners LLC now owns 423,895 shares of the company’s stock worth $31,521,000 after acquiring an additional 29,477 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in Liberty Broadband in the 4th quarter worth approximately $35,441,000. 10.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Benchmark cut their target price on Liberty Broadband from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.20.

Liberty Broadband Stock Up 2.3 %

Shares of Liberty Broadband stock opened at $86.80 on Thursday. The company has a market cap of $12.44 billion, a P/E ratio of 15.99 and a beta of 1.03. Liberty Broadband Co. has a 1 year low of $47.17 and a 1 year high of $100.44. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $81.22 and a 200 day moving average price of $80.16.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.31. The firm had revenue of $263.00 million during the quarter, compared to analysts’ expectations of $252.50 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%.

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.