5 Most Promising Stocks to Buy According to Hedge Funds

2. Liberty Broadband Corp. (NASDAQ:LBRDK)

Number of Hedge Fund Holders: 52

Average Analyst Price Target: $122

One-year average analyst price estimate on Liberty Broadband Corp. (NASDAQ:LBRDK) is $122 while the stock’s price as of December 4 was $84.

As of the end of the third quarter of 2023, 52 hedge funds had stakes in Liberty Broadband Corp. (NASDAQ:LBRDK).

Weitz Partners III Opportunity Fund made the following comment about Liberty Broadband Corporation (NASDAQ:LBRDA) in its first quarter 2023 investor letter:

“Beyond our financial holdings, Liberty SiriusXM’s quarterly declines were significant enough to land it on our quarterly detractors list. The company also joins Liberty Broadband Corporation (NASDAQ:LBRDA) on the detractors list for the fiscal year. Liberty Chairman John Malone and CEO Greg Maffei have a long, successful track record of pairing businesses with predictable and growing cash flow streams with prudent use of debt to enhance equity returns via share buybacks. SiriusXM and Charter Communications, the two primary operating entities of the Liberty holding companies, are two such examples. Lately, necessary operating investments (new satellites and streaming technology for Sirius, fiber-competitive speed upgrades and network expansions at Charter) have reduced the amount of capital available for repurchases. Investment cycles are not unusual, and both businesses will be better positioned afterward. We believe the long-term equity return potential remains intact. In the short term, we believe Liberty SiriusXM will also benefit from management’s decision to separate Liberty SiriusXM into two distinct tracking stocks to individually highlight the value of its ownership stakes of SiriusXM and Live Nation — currently both attributed to Liberty SiriusXM shares. This move will facilitate greater transparency for shareholders and potentially help reduce the shares’ discount to the market value of their underlying assets.”