Liberty Broadband Corporation (LBRDA) Stake Lowered by State of Wisconsin Investment Board

Liberty Broadband Corporation logoState of Wisconsin Investment Board cut its stake in Liberty Broadband Corporation (NASDAQ:LBRDA) by 63.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,072 shares of the company’s stock after selling 8,939 shares during the period. State of Wisconsin Investment Board’s holdings in Liberty Broadband Corporation were worth £432,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mraz Amerine & Associates Inc. acquired a new stake in Liberty Broadband Corporation during the first quarter worth about £222,000. Janney Montgomery Scott LLC acquired a new stake in Liberty Broadband Corporation during the first quarter worth about £241,000.

Keybank National Association OH raised its stake in Liberty Broadband Corporation by 0.6% in the fourth quarter. Keybank National Association OH now owns 3,288 shares of the company’s stock worth £238,000 after buying an additional 19 shares during the period. Karp Capital Management Corp acquired a new stake in Liberty Broadband Corporation during the first quarter worth about £295,000.

Finally, Envestnet Asset Management Inc. raised its stake in Liberty Broadband Corporation by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,172 shares of the company’s stock worth £297,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 81.58% of the company’s stock.

Institutional Ownership by Quarter for Liberty Broadband Corporation (NASDAQ:LBRDA)

Shares of Liberty Broadband Corporation (LBRDA[1]) opened at 87.19 on Friday. The firm has a market capitalization of £15.85 billion, a price-to-earnings ratio of 16.29 and a beta of 1.43. The firm’s 50-day moving average is £86.03 and its 200-day moving average is £81.97.

Liberty Broadband Corporation has a 12-month low of £55.30 and a 12-month high of £91.16.

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A number of research firms have issued reports on LBRDA.

Pivotal Research reduced their target price on shares of Liberty Broadband Corporation from £108.00 to £107.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. Zacks Investment Research[2] lowered shares of Liberty Broadband Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, March 15th. Finally, TheStreet upgraded shares of Liberty Broadband Corporation from a “c+” rating to a “b-” rating in a report on Wednesday, March 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock.

The company has a consensus rating of “Buy” and a consensus price target of £87.67. In related news, Director John C. Malone sold 40,000 shares of Liberty Broadband Corporation stock in a transaction on Monday, June 12th.

The shares were sold at an average price of £87.67, for a total value of £3,506,800.00. Following the completion of the sale, the director now owns 3,805,554 shares in the company, valued at £333,632,919.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link[3].

6.09% of the stock is currently owned by insiders. Liberty Broadband Corporation Company Profile Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook).

The Company’s segments include Skyhook, Charter, and Corporate and other.

Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.

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References

  1. ^ LBRDA (www.marketbeat.com)
  2. ^ Zacks Investment Research (www.americanconsumernews.net)
  3. ^ this link (www.sec.gov)
  4. ^ MarketBeat.com’s FREE daily email newsletter (www.themarketsdaily.com)

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