Liberty Broadband Corporation $LBRDK Stake Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 493.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,270,557 shares of the company’s stock after buying an additional 1,887,742 shares during the quarter. JPMorgan Chase & Co. owned 1.58% of Liberty Broadband worth $144,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Liberty Broadband during the 2nd quarter worth about $137,249,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Liberty Broadband by 71.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,557,714 shares of the company’s stock valued at $153,248,000 after purchasing an additional 648,125 shares during the period. Baupost Group LLC MA lifted its position in shares of Liberty Broadband by 337.0% in the second quarter. Baupost Group LLC MA now owns 745,610 shares of the company’s stock worth $73,353,000 after purchasing an additional 575,000 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of Liberty Broadband during the third quarter worth approximately $32,323,000. Finally, Man Group plc grew its position in Liberty Broadband by 92.9% during the second quarter. Man Group plc now owns 957,253 shares of the company’s stock valued at $94,175,000 after purchasing an additional 460,920 shares in the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Price Performance

NASDAQ LBRDK opened at $53.58 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $7.69 billion, a PE ratio of 9.71 and a beta of 0.99. Liberty Broadband Corporation has a 12-month low of $42.10 and a 12-month high of $104.00. The company has a 50 day moving average price of $49.12 and a two-hundred day moving average price of $53.75.

Insider Buying and Selling

In other Liberty Broadband news, Director J David Wargo sold 44,450 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $57.30, for a total transaction of $2,546,985.00. Following the transaction, the director directly owned 19,150 shares in the company, valued at $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 49,571 shares of company stock worth $2,811,642 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

LBRDK has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company’s primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.