BlackRock Advisors LLC Sells 9,222 Shares of Liberty Broadband Corp. (LBRDA)
BlackRock Advisors LLC cut its position in shares of Liberty Broadband Corp. (NASDAQ:LBRDA) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,665 shares of the company’s stock after selling 9,222 shares during the period. BlackRock Advisors LLC owned about 0.43% of Liberty Broadband Corp. worth $26,176,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bridger Management LLC acquired a new position in shares of Liberty Broadband Corp. during the first quarter worth $25,351,000. Norges Bank acquired a new position in shares of Liberty Broadband Corp. during the fourth quarter worth $11,943,000. First Republic Investment Management Inc. raised its position in shares of Liberty Broadband Corp. by 104.4% in the first quarter. First Republic Investment Management Inc. now owns 338,334 shares of the company’s stock worth $19,678,000 after buying an additional 172,769 shares in the last quarter. Locust Wood Capital Advisers LLC acquired a new position in shares of Liberty Broadband Corp. during the second quarter worth $9,424,000. Finally, Marcato Capital Management LP raised its position in shares of Liberty Broadband Corp. by 36.3% in the first quarter. Marcato Capital Management LP now owns 589,439 shares of the company’s stock worth $34,282,000 after buying an additional 157,057 shares in the last quarter. 79.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Liberty Broadband Corp. (NASDAQ:LBRDA) opened at 70.90 on Friday. The stock has a 50 day moving average price of $67.72 and a 200 day moving average price of $60.88. Liberty Broadband Corp. has a 12 month low of $42.03 and a 12 month high of $71.76. The stock’s market capitalization is $7.33 billion.
Several analysts have weighed in on the company. Zacks Investment Research raised Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Wednesday, July 13th. Deutsche Bank AG upped their target price on Liberty Broadband Corp. from $76.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Wunderlich upped their target price on Liberty Broadband Corp. from $70.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Liberty Broadband Corp. presently has a consensus rating of “Buy” and an average target price of $73.60.
In related news, insider Albert E. Rosenthaler sold 1,907 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $67.39, for a total value of $128,512.73. Following the completion of the sale, the insider now owns 18,769 shares in the company, valued at approximately $1,264,842.91. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John C. Malone sold 122,795 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $68.45, for a total transaction of $8,405,317.75. Following the completion of the sale, the director now owns 4,145,781 shares of the company’s stock, valued at approximately $283,778,709.45. The disclosure for this sale can be found here. 11.32% of the stock is currently owned by corporate insiders.
Liberty Broadband Corp. Company Profile
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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