Liberty Broadband Corp. (LBRDK) Reaches New 1-Year High at $62.77
Liberty Broadband Corp. (NASDAQ:LBRDK) reached a new 52-week high on Thursday . The company traded as high as $62.77 and last traded at $62.33, with a volume of 108,540 shares trading hands. The stock had previously closed at $62.30.
Several research analysts have weighed in on LBRDK shares. 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 report on Thursday, March 31st. TheStreet raised shares of Liberty Broadband Corp. from a “sell” rating to a “hold” rating in a report on Monday, April 11th.
The company’s market capitalization is $6.56 billion. The firm has a 50-day moving average of $60.27 and a 200 day moving average of $55.20.
In related news, Director John C. Malone sold 26,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 4,198,454 shares of the company’s stock, valued at $244,433,991.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Other hedge funds have bought and sold shares of 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 during the period. Harris Associates L P acquired a new stake in Liberty Broadband Corp. during the fourth quarter worth about $27,674,000. 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 during the period. 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 during the period. Finally, 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 during the period.
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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