Top 5 Stock Picks of Eli Cohen’s Crescent Park Management

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1. Liberty Broadband Corporation (NASDAQ:LBRDA)

Crescent Park Management’s Stake Value: $54,880,000
Percentage of Crescent Park Management’s 13F Portfolio: 8.93%
Number of Hedge Fund Holders: 22

Liberty Broadband Corporation (NASDAQ:LBRDA) is a holding company that is involved in the cable, broadband, and mobile location technology industries. Liberty Broadband Corporation (NASDAQ:LBRDA) reported quarterly results for Q1 2022 on May 6, with earnings per share of $1.77, beating consensus estimates by $0.28.

On March 10, Benchmark analyst Matthew Harrigan cut his price target on Liberty Broadband Corporation (NASDAQ:LBRDA) from $242 to $222 but maintained a Buy rating, citing stock market conditions affecting the GCI Alaska evaluation and assuming the current 18% NAV discount. Eli Cohen via Crescent Park Management, held 340,660 shares of Liberty Broadband Corporation (NASDAQ:LBRDA) at the end of December 2021, worth $54.88 million, representing 8.93% of the total 13F securities.

Hedge fund opinion has recently shifted against Liberty Broadband Corporation (NASDAQ:LBRDA). The number of long hedge fund positions declined to 22 at the end of the fourth quarter of 2021, compared to 24 positions in the previous quarter.

Alphyn Capital Management, an investment management firm, in its first-quarter 2022 investor letter, mentioned Liberty Broadband Corporation (NASDAQ:LBRDA). Here is what the fund said:

“We part-financed the additions to Amazon and Wayfair by trimming some Liberty Broadband. Liberty Broadband is a HoldCo and tracking stock whose primary holding is Charter Communications. Charter benefits from its extensive network of cable assets that can provide higher bandwidth internet at better prices than offerings from traditional telecom and satellite carriers. Moreover, with excellent management and capital stewardship, Charter has increased its high-margin broadband subscriber base despite losing some video subscribers to “cord-cutting… (Click here to read the full text).”

You can also take a peek at 10 Stocks to Invest In Now According to Viraj Mehta’s Arctis Global and 10 Stock Picks of Rishi Bajaj’s Altai Capital.

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