9 Best Stocks to Buy in 2024 According to Billionaire George Soros

4. Liberty Broadband Corp (NASDAQ:LBRDA)

Billionaire George Soros’s Q1’2024 Stake Value: $79,543,576

Billionaire George Soros’s hedge fund owns a $79 million stake in Liberty Broadband Corp (NASDAQ:LBRDA) as of the end of the first quarter of 2024. The billionaire’s fund has been holding on to the stock despite losses. It fell about 36% so far this year. The stock was the biggest detractor for Longleaf Partners Fund, which stated the following regarding Liberty Broadband Corporation (NASDAQ:LBRDA) in its first quarter 2024 investor letter:

“Liberty Broadband Corporation (NASDAQ:LBRDA) – Cable and media holding company Liberty Broadband was the top detractor in the quarter. The company’s investment in Charter Communications posted disappointing numbers for key metrics like subscribers and cash flow growth. Other broadband industry players have also produced disappointing results, and has been a “1 step forward, 1 step back” situation over our holding period. We do, however, believe that competitive trends should get better as the year goes on, especially as fixed wireless capacity is not endless. It was encouraging to see Charter increase the pace of share repurchase in the quarter, with a simultaneous uptick in insider buying. Unfortunately, our value has not grown as we thought it would, leading to this investment being a smaller position in the portfolio today.”

Madison Investors Fund also lamented over the stock’s decline in its Q1’2024 letter but said it’s hopeful the company would be able to turnaround:

“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.”

According to data from Yahoo Finance, average analyst price target on LBRDA set by Wall Street is $100, about 94% higher than the stock’s current price of $52.