Here’s Why Liberty Broadband Corporation (LBRDA) Fell in Q4
Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund (Class Y) returned 14.3% compared to a 12.8% return for the Russell Midcap Index. The fund returned 26.5% for the full year compared to 17.2% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Madison Mid Cap Fund featured stocks such as Liberty Broadband Corporation (NASDAQ:LBRDA) in the fourth quarter 2023 investor letter. Headquartered in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDA) provides communications services. On January 12, 2024, Liberty Broadband Corporation (NASDAQ:LBRDA) stock closed at $76.10 per share. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDA) was -2.00%, and its shares lost 13.48% of their value over the last 52 weeks. Liberty Broadband Corporation (NASDAQ:LBRDA) has a market capitalization of $11.16 billion.
Madison Mid Cap Fund stated the following regarding Liberty Broadband Corporation (NASDAQ:LBRDA) in its fourth quarter 2023 investor letter:
"The bottom five detractors for the quarter were Arch Capital Group, Liberty Broadband Corporation (NASDAQ:LBRDA), Brown & Brown, Markel Group, and CarMax. Shares of Liberty Broadband, a holding company with a large investment in cable operator Charter Communications, were weak in the quarter as internet subscriber trends continue to disappoint. While the competitive environment is currently tough, we believe it will improve over time. Cable’s technology infrastructure is demonstrably superior, in both cost and performance, to what some of the legacy telecommunications carriers are currently rolling out in the form of “fixed wireless” broadband. Thus, their potential subscriber base is limited to a segment of the population base. We believe it likely therefore that the carriers will soon be limited in the competition they provide to Charter."
A technician in a telecom facility installing wireless routers and operating on a computer.
Liberty Broadband Corporation (NASDAQ:LBRDA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Liberty Broadband Corporation (NASDAQ:LBRDA) at the end of third quarter which was 23 in the previous quarter.
We discussed Liberty Broadband Corporation (NASDAQ:LBRDA) in another article and shared billionaire Paul Singer’s top holdings and recent moves. . In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
