Assenagon Asset Management S.A. Trims Position in Liberty Broadband Corporation $LBRDK

Assenagon Asset Management S.A. decreased its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 20.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,227,197 shares of the company’s stock after selling 566,757 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Liberty Broadband were worth $112,028,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LBRDK. DLD Asset Management LP acquired a new stake in Liberty Broadband in the 3rd quarter worth approximately $4,636,000. M&T Bank Corp increased its stake in Liberty Broadband by 4,476.6% during the 4th quarter. M&T Bank Corp now owns 234,824 shares of the company’s stock valued at $12,421,000 after purchasing an additional 229,693 shares in the last quarter. Athos Capital Ltd purchased a new position in shares of Liberty Broadband in the third quarter worth $10,746,000. Banyan Capital Management Inc. purchased a new position in shares of Liberty Broadband in the fourth quarter worth $3,366,000. Finally, Hudson Bay Capital Management LP lifted its stake in shares of Liberty Broadband by 32.0% during the third quarter. Hudson Bay Capital Management LP now owns 165,000 shares of the company’s stock worth $10,484,000 after buying an additional 40,000 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LBRDK has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a report on Friday, March 27th. Wall Street Zen upgraded Liberty Broadband from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Liberty Broadband Stock Down 0.4%

NASDAQ:LBRDK opened at $30.75 on Thursday. The firm has a market capitalization of $4.41 billion, a P/E ratio of -1.60 and a beta of 0.66. Liberty Broadband Corporation has a 1-year low of $29.08 and a 1-year high of $101.46. The company’s fifty day moving average price is $37.20 and its 200-day moving average price is $45.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.09.

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.