Coatue Management LLC Has $242.23 Million Stock Position in Liberty Broadband Corp Series C (NASDAQ:LBRDK)

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Coatue Management LLC decreased its position in Liberty Broadband Corp Series C (NASDAQ:LBRDK) by 59.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,954,115 shares of the company’s stock after selling 2,876,108 shares during the period. Liberty Broadband Corp Series C comprises approximately 2.1% of Coatue Management LLC’s portfolio, making the stock its 20th largest position. Coatue Management LLC’s holdings in Liberty Broadband Corp Series C were worth $242,232,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LBRDK. Atom Investors LP lifted its position in Liberty Broadband Corp Series C by 244.9% in the 2nd quarter. Atom Investors LP now owns 26,155 shares of the company’s stock valued at $3,242,000 after acquiring an additional 18,572 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Liberty Broadband Corp Series C during the 2nd quarter worth about $1,225,000. Cadian Capital Management LP bought a new stake in Liberty Broadband Corp Series C during the 2nd quarter worth about $27,271,000. K2 Principal Fund L.P. bought a new stake in Liberty Broadband Corp Series C during the 2nd quarter worth about $306,000. Finally, George Kaiser Family Foundation lifted its position in Liberty Broadband Corp Series C by 0.4% during the 2nd quarter. George Kaiser Family Foundation now owns 36,697 shares of the company’s stock worth $4,549,000 after buying an additional 140 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Several brokerages have commented on LBRDK. TD Securities cut shares of Liberty Broadband Corp Series C from a “buy” rating to a “hold” rating and boosted their price target for the stock from $155.00 to $165.00 in a research report on Tuesday, August 18th. They noted that the move was a valuation call. TheStreet cut shares of Liberty Broadband Corp Series C from a “b-” rating to a “c+” rating in a report on Thursday, June 4th. Zacks Investment Research cut shares of Liberty Broadband Corp Series C from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Pivotal Research reaffirmed a “buy” rating and issued a $187.00 target price on shares of Liberty Broadband Corp Series C in a report on Monday, May 11th. Finally, Morgan Stanley upped their target price on shares of Liberty Broadband Corp Series C from $170.00 to $183.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $165.20.

LBRDK traded down $2.69 on Friday, reaching $136.80. The company had a trading volume of 868,842 shares, compared to its average volume of 741,363. Liberty Broadband Corp Series C has a fifty-two week low of $86.20 and a fifty-two week high of $146.84. The stock has a market cap of $24.89 billion, a P/E ratio of 136.80 and a beta of 1.07. The company’s fifty day moving average is $138.46 and its 200 day moving average is $127.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.98 and a current ratio of 0.98.

Liberty Broadband Corp Series C (NASDAQ:LBRDK) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.41). Liberty Broadband Corp Series C had a net margin of 1,158.25% and a return on equity of 1.72%. The company had revenue of $4.11 million during the quarter. On average, sell-side analysts expect that Liberty Broadband Corp Series C will post 2.39 EPS for the current year.

Liberty Broadband Corp Series C Profile

Liberty Broadband Corporation, a cable operator, provides video, Internet, and voice services to residential, and small and medium business customers in the United States. The company operates through Skyhook and Charter segments. The Skyhook segment offers Precision Location Solution, a location determination service for mobile device makers, wireless carriers, and asset tracking platforms to understand the precise geographic location and movement of mobile devices, as well as for enhancing the location determination capabilities of a hybrid location system.

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Institutional Ownership by Quarter for Liberty Broadband Corp Series C (NASDAQ:LBRDK)

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