Liberty Broadband Corp. (LBRDK) Stake Boosted by FTB Advisors Inc.
FTB Advisors Inc. raised its stake in shares of Liberty Broadband Corp. (NASDAQ:LBRDK) by 2,803.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,107 shares of the company’s stock after buying an additional 3,000 shares during the period. FTB Advisors Inc.’s holdings in Liberty Broadband Corp. were worth $185,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. NEXT Financial Group Inc increased its stake in shares of Liberty Broadband Corp. by 759.5% in the second quarter. NEXT Financial Group Inc now owns 1,908 shares of the company’s stock worth $114,000 after buying an additional 1,686 shares in the last quarter. Creative Planning increased its stake in shares of Liberty Broadband Corp. by 2.6% in the second quarter. Creative Planning now owns 5,680 shares of the company’s stock worth $341,000 after buying an additional 142 shares in the last quarter. Aperio Group LLC increased its stake in shares of Liberty Broadband Corp. by 5.3% in the first quarter. Aperio Group LLC now owns 8,306 shares of the company’s stock worth $481,000 after buying an additional 420 shares in the last quarter. IBM Retirement Fund increased its stake in shares of Liberty Broadband Corp. by 56.2% in the second quarter. IBM Retirement Fund now owns 10,433 shares of the company’s stock worth $626,000 after buying an additional 3,753 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Liberty Broadband Corp. during the first quarter worth approximately $812,000. Hedge funds and other institutional investors own 66.41% of the company’s stock.
Shares of Liberty Broadband Corp. (NASDAQ:LBRDK) traded up 0.26% during trading on Tuesday, hitting $68.35. The stock had a trading volume of 326,179 shares. The stock’s 50-day moving average is $70.53 and its 200-day moving average is $63.09. Liberty Broadband Corp. has a 12-month low of $41.30 and a 12-month high of $72.94. The stock has a market capitalization of $12.42 billion, a P/E ratio of 9.44 and a beta of 1.35.
Separately, Zacks Investment Research upgraded Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Wednesday, September 14th.
In other Liberty Broadband Corp. news, Director John C. Malone sold 29,273 shares of the business’s 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 transaction, the director now owns 4,145,781 shares of the company’s stock, valued at $285,105,359.37. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John C. Malone sold 93,522 shares of the business’s 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 in the company, valued at approximately $283,364,131.35. The disclosure for this sale can be found here. 10.80% of the stock is 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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