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Liberty Broadband Corporation (LBRDA) Fell on Decline in Subscriber Growth

Soumya Eswaran
·2-min read

Madison Investments, an investment advisor, released its “Madison Investors Fund” first-quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Class Y) returned 9.63% compared to a 10.56% return for the S&P 500 index. The business remains dedicated to its more than two-decades-old strategy of investing in long-term, competitively advantaged, expanding firms at acceptable valuations, even if market performance has been robust over the past year and valuations have generally returned to earlier highs. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Madison Investors Fund featured stocks like Liberty Broadband Corporation (NASDAQ:LBRDA) in the first quarter 2024 investor letter. Headquartered in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDA) provides communications services. On April 17, 2024, Liberty Broadband Corporation (NASDAQ:LBRDA) stock closed at $48.49 per share. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDA) was -14.51%, and its shares lost 36.65% of their value over the last 52 weeks. Liberty Broadband Corporation (NASDAQ:LBRDA) has a market capitalization of $6.901 billion.

Madison Investors Fund stated the following regarding Liberty Broadband Corporation (NASDAQ:LBRDA) in its first quarter 2024 investor letter:

"Shares in Liberty Broadband Corporation (NASDAQ:LBRDA), a holding company with a large investment in cable operator Charter Communications, took another leg down this quarter as internet subscriber growth turned negative. However, there were also signs in the quarter that competition from fixed wireless internet providers was set to slow; this fact, combined with historically low valuation multiples, keep us optimistic regarding our investment."

A technician in a telecom facility installing wireless routers and operating on a computer.

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Liberty Broadband Corporation (NASDAQ:LBRDA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Liberty Broadband Corporation (NASDAQ:LBRDA) was held by 19 hedge fund portfolios, compared to 24 in the previous quarter, according to our database.

We previously discussed Liberty Broadband Corporation (NASDAQ:LBRDA) in another article, where we shared the list of oversold value stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 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.