Top Investors’ Stock Portfolio: 5 Mid-Cap Stocks To Buy

3. Liberty Broadband Corporation (NASDAQ:LBRDK)

Number of Hedge Fund Holders: 58

Market Capitalization as of February 24: $12.948 billion

Liberty Broadband Corporation (NASDAQ:LBRDK) is a Colorado-based communications company that provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions. On October 13, Citi analyst Michael Rollins maintained a Buy recommendation on Liberty Broadband Corporation (NASDAQ:LBRDK) but lowered the firm’s price target on the shares to $91 from $130. The analyst revised his financial projections for Charter, leading to a reduction in Citi’s target price for Charter to $350. Rollins believes that Liberty Broadband is still undervalued, trading at a discount of approximately 16% based on its estimated net asset value.

According to Insider Monkey’s Q4 data, 58 hedge funds were long Liberty Broadband Corporation (NASDAQ:LBRDK), and Boykin Curry’s Eagle Capital Management held the largest stake in the company, comprising 7.8 million shares worth nearly $597 million. 

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

“Liberty Broadband Corporation (NASDAQ:LBRDK) – 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 hold co 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.”