What This Metric Says about Liberty Broadband Corp (LBRDK)

Because Liberty Broadband Corp (NASDAQ:LBRDK) has witnessed a decline in interest from hedge fund managers, it’s easy to see that there lies a certain “tier” of money managers that slashed their positions entirely by the end of the third quarter. At the top of the heap, Michael Thompson’s BHR Capital dumped the biggest investment of the 700 funds followed by Insider Monkey, worth about $6 million in stock. Morris Mark’s fund, Mark Asset Management, also dropped its stock, about $4 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Liberty Broadband Corp (NASDAQ:LBRDK) but similarly valued. We will take a look at FMC Corp (NYSE:FMC), Liberty Broadband Corp (NASDAQ:LBRDA), Spirit Realty Capital Inc (NYSE:SRC), and Companhia de Saneamento Basico (ADR) (NYSE:SBS). All of these stocks’ market caps match LBRDK’s market cap.

As you can see these stocks had an average of 22 hedge funds holding long positions and the average amount invested in these stocks was $490 million. That figure was $3.75 billion in LBRDK’s case. FMC Corp (NYSE:FMC) is the most popular stock in this table, while Companhia de Saneamento Basico (ADR) (NYSE:SBS) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks, Liberty Broadband Corp (NASDAQ:LBRDK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.