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Liberty Broadband Corp. (LBRDK) Rating Increased to Buy at the TheStreet

Liberty Broadband Corp. (NASDAQ:LBRDK) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. Separately, Zacks Investment Research raised Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Wednesday, September 14th. In other news, Director John C. Malone sold 29,273 shares of the stock in a transaction that occurred on Monday, August 15th.

The stock was sold at an average price of $68.77, for a total transaction of $2,013,104.21. Following the completion of the transaction, the director now directly owns 4,145,781 shares of the company’s stock, valued at approximately $285,105,359.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John C. Malone sold 93,522 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $68.35, for a total value of $6,392,228.70. Following the transaction, the director now directly owns 4,145,781 shares of the company’s stock, valued at $283,364,131.35. The disclosure for this sale can be found here. Company insiders own 10.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Republic Investment Management Inc. increased its position in shares of Liberty Broadband Corp. by 100.7% in the first quarter. First Republic Investment Management Inc. now owns 4,639,530 shares of the company’s stock worth $268,860,000 after buying an additional 2,327,987 shares during the period. Marcato Capital Management LP increased its position in shares of Liberty Broadband Corp.

by 31.1% in the first quarter. Marcato Capital Management LP now owns 1,168,825 shares of the company’s stock worth $67,733,000 after buying an additional 277,313 shares during the period. Foxhaven Asset Management LP acquired a new position in shares of Liberty Broadband Corp. during the first quarter worth about $22,345,000. A.R.T. Advisors LLC acquired a new position in shares of Liberty Broadband Corp. during the first quarter worth about $812,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Liberty Broadband Corp.

by 34.4% in the first quarter. Envestnet Asset Management Inc. now owns 45,888 shares of the company’s stock worth $2,659,000 after buying an additional 11,749 shares during the period.

66.59% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Corp.

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