Is Liberty Broadband Corporation (LBRDA) a Good Investment?

Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered an 8.63% return, compared to a 7.56% return for the S&P Index and a 12.42% return for the Russell 1000 Value Index. For 2022, the fund was 23.25% down while, the S&P 500 fell 18.11% and the Russell 1000 Value Index returned -7.54%. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Longleaf Partners Fund highlighted stocks Liberty Broadband Corporation (NASDAQ:LBRDA) in the Q4 2022 investor letter. Headquartered in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDA) provides communications services. On February 7, 2023, Liberty Broadband Corporation (NASDAQ:LBRDA) stock closed at $93.89 per share. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDA) was 9.20%, and its shares lost 38.19% of their value over the last 52 weeks. Liberty Broadband Corporation (NASDAQ:LBRDA) has a market capitalization of $13.852 billion.

Longleaf Partners Fund made the following comment about Liberty Broadband Corporation (NASDAQ:LBRDA) in its Q4 2022 investor letter:

Liberty Broadband Corporation (NASDAQ:LBRDA) – Cable and media holding company Liberty Broadband declined amid worsening sentiment for its underlying cable business Charter. We believe the Liberty management team will successfully close the valuation gap at both underlying holding Charter and holdco Liberty Broadband, as we have seen sentiment on cable stocks shift many times over our decades at Southeastern. This remains a good business run by great partners.”

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Liberty Broadband Corporation (NASDAQ:LBRDA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Liberty Broadband Corporation (NASDAQ:LBRDA) at the end of the third quarter, which was 27 in the previous quarter.

We discussed Liberty Broadband Corporation (NASDAQ:LBRDA) in another article and shared Madison Funds’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.