Fifth Third Bancorp Invests $896,000 in Liberty Broadband Corporation $LBRDK

Fifth Third Bancorp bought a new position in Liberty Broadband Corporation (NASDAQ:LBRDK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,818 shares of the company’s stock, valued at approximately $896,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LBRDK. Highlander Partners L.P. purchased a new stake in shares of Liberty Broadband during the fourth quarter worth about $26,000. eCIO Inc. purchased a new position in Liberty Broadband during the 4th quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in Liberty Broadband during the 3rd quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its position in Liberty Broadband by 59.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 733 shares of the company’s stock valued at $72,000 after purchasing an additional 273 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Liberty Broadband in the 3rd quarter worth approximately $51,000. 80.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LBRDK shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. Wall Street Zen raised Liberty Broadband from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Liberty Broadband presently has a consensus rating of “Sell”.

Liberty Broadband Price Performance

Shares of LBRDK opened at $28.89 on Monday. The stock has a market cap of $4.15 billion, a PE ratio of -1.51 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. Liberty Broadband Corporation has a fifty-two week low of $26.25 and a fifty-two week high of $76.77. The firm’s 50-day simple moving average is $31.87 and its two-hundred day simple moving average is $42.88.

About Liberty Broadband

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.