Is LBRDA a Smart Long-Term Buy?

Longleaf Partners Fund, a Memphis-based fund under Southeastern Asset Management, published its “Longleaf Partners Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Longleaf Partners Fund declined 0.53% in the first quarter, holding up better than the S&P 500, which fell 4.60%. In a volatile quarter for markets across the globe, its companies made solid progress across the board. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Longleaf Partners Fund mentioned Liberty Broadband Corporation (NASDAQ:LBRDA) and explained its insights for the company. Founded in 2014, Liberty Broadband Corporation (NASDAQ:LBRDA) is a Englewood, Colorado-based media company with an $18.8 billion market capitalization. Liberty Broadband Corporation (NASDAQ:LBRDA) delivered a -28.94% return since the beginning of the year, while its 12-month returns are down by -33.42%. The stock closed at $114.33 per share on July 07, 2022.

Here is what Longleaf Partners Fund has to say about Liberty Broadband Corporation (NASDAQ:LBRDA) in its Q1 2022 investor letter:

“Liberty Broadband – A new position in 4Q 2021, holding company Liberty Broadband also suffered from a widening of a market-imposed holdco discount in an uncertain quarter. Liberty’s stakes in Charter and Alaskan cable company GCI also faced near-term concerns over slowing industry broadband additions, but these businesses have over a decade of pricing power history and are well positioned to weather an inflationary environment. We have a high degree of respect for our partners in John Malone and Greg Maffei, who are focused on growing value per share and are actively repurchasing discounted shares to help close the price-to-value gap.”

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Our calculations show that Liberty Broadband Corporation (NASDAQ:LBRDA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Liberty Broadband Corporation (NASDAQ:LBRDA) was in 26 hedge fund portfolios at the end of the first quarter of 2022, compared to 22 funds in the previous quarter. Liberty Broadband Corporation (NASDAQ:LBRDA) delivered a -13.80%% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on Liberty Broadband Corporation (NASDAQ:LBRDA) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.