Liberty Broadband Corp. (LBRDK) Sets New 52-Week High at $63.87
Shares of Liberty Broadband Corp. (NASDAQ:LBRDK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $63.87 and last traded at $63.70, with a volume of 275,466 shares traded. The stock had previously closed at $63.28.
LBRDK has been the subject of several analyst reports. Zacks Investment Research raised shares of Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Thursday, March 31st. TheStreet raised shares of Liberty Broadband Corp. from a “sell” rating to a “hold” rating in a research note on Monday, April 11th.
The firm’s 50 day moving average is $60.68 and its 200-day moving average is $55.60. The company’s market capitalization is $6.57 billion.
In other news, Director John C. Malone sold 26,000 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $58.22, for a total transaction of $1,513,720.00. Following the completion of the sale, the director now owns 4,198,454 shares of the company’s stock, valued at $244,433,991.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Liberty Broadband Corp. by 21.7% in the fourth quarter. Principal Financial Group Inc. now owns 3,256,082 shares of the company’s stock worth $168,858,000 after buying an additional 581,416 shares in the last quarter. Sei Investments Co. boosted its stake in Liberty Broadband Corp. by 25,292.8% in the fourth quarter. Sei Investments Co. now owns 28,186 shares of the company’s stock worth $1,462,000 after buying an additional 28,075 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Liberty Broadband Corp. by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 282,347 shares of the company’s stock worth $14,643,000 after buying an additional 3,101 shares in the last quarter. US Bancorp DE boosted its stake in Liberty Broadband Corp. by 5.7% in the fourth quarter. US Bancorp DE now owns 51,265 shares of the company’s stock worth $2,659,000 after buying an additional 2,777 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Liberty Broadband Corp. by 2.1% in the fourth quarter. Rhumbline Advisers now owns 47,178 shares of the company’s stock worth $2,447,000 after buying an additional 979 shares in the last quarter.
Liberty Broadband Corporation holds interests in Charter Communications, Inc (Charter), TruePosition, Inc (TruePosition) and Time Warner Cable, Inc (TWC). The Company’s segments include Trueposition, Charter, and Corporate and other. The TruePosition segment includes the operations of TruePosition, a subsidiary of the Company that develops and markets technology for locating wireless phones and other wireless devices on a cellular network, enabling wireless carriers and government agencies to provide public safety E-9-1-1 services domestically and services in support of national security and law enforcement across the world.
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