UBS Asset Management Americas Inc. raised its position in Liberty Broadband Corp. (NASDAQ:LBRDK) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,866 shares of the company’s stock after buying an additional 4,603 shares during the period. UBS Asset Management Americas Inc. owned 0.06% of Liberty Broadband Corp. worth $3,412,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of LBRDK. NEXT Financial Group Inc boosted its stake in 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 during the last quarter. FTB Advisors Inc. boosted its stake in Liberty Broadband Corp. by 2,803.7% in the second quarter. FTB Advisors Inc. now owns 3,107 shares of the company’s stock worth $185,000 after buying an additional 3,000 shares during the last quarter. Creative Planning boosted its stake in 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 during the last quarter. Virginia Retirement System purchased a new stake in Liberty Broadband Corp. during the first quarter worth approximately $469,000. Finally, Aperio Group LLC boosted its stake in 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 during the last quarter. 66.54% of the stock is currently owned by institutional investors.
Liberty Broadband Corp. (NASDAQ:LBRDK) traded down 1.11% during midday trading on Monday, hitting $70.69. 478,775 shares of the stock traded hands. The company’s 50 day moving average price is $70.11 and its 200 day moving average price is $62.06. Liberty Broadband Corp. has a 12 month low of $41.30 and a 12 month high of $72.94. The firm has a market cap of $12.84 billion, a PE ratio of 9.77 and a beta of 1.35.
Separately, Zacks Investment Research upgraded shares of Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Wednesday, September 14th.
In related news, Director John C. Malone sold 93,522 shares of the company’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 sale, the director now owns 4,145,781 shares in the company, valued at $283,364,131.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John C. Malone sold 29,273 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $68.77, for a total value of $2,013,104.21. Following the completion of the sale, the director now owns 4,145,781 shares in the company, valued at approximately $285,105,359.37. The disclosure for this sale can be found here. Insiders own 10.80% of the company’s stock.
About Liberty Broadband Corp.
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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