Clearbridge Investments LLC Reduces Position in Liberty Broadband Co. (NASDAQ:LBRDK)

Clearbridge Investments LLC lessened its holdings in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 52.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,321 shares of the company’s stock after selling 385,742 shares during the period. Clearbridge Investments LLC’s holdings in Liberty Broadband were worth $28,474,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LBRDK. Wahed Invest LLC grew its stake in shares of Liberty Broadband by 9.4% in the 3rd quarter. Wahed Invest LLC now owns 1,835 shares of the company’s stock valued at $168,000 after buying an additional 157 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Liberty Broadband by 2.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,245 shares of the company’s stock worth $662,000 after purchasing an additional 200 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Liberty Broadband by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 52,654 shares of the company’s stock valued at $4,808,000 after buying an additional 230 shares during the period. Arizona State Retirement System lifted its position in Liberty Broadband by 0.8% in the fourth quarter. Arizona State Retirement System now owns 32,887 shares of the company’s stock valued at $2,650,000 after buying an additional 246 shares during the last quarter. Finally, Alaska Permanent Fund Corp boosted its stake in Liberty Broadband by 1.0% during the fourth quarter. Alaska Permanent Fund Corp now owns 31,914 shares of the company’s stock worth $2,572,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their target price on shares of Liberty Broadband from $108.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, February 7th.

Liberty Broadband Stock Performance

NASDAQ:LBRDK opened at $50.59 on Friday. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 8.59 and a beta of 0.97. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.41. Liberty Broadband Co. has a 52 week low of $46.46 and a 52 week high of $95.68. The company has a fifty day simple moving average of $52.61 and a two-hundred day simple moving average of $66.26.

Insider Buying and Selling

In related news, Director J David Wargo sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $57.33, for a total value of $630,630.00. Following the sale, the director now owns 106,332 shares of the company’s stock, valued at $6,096,013.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 45,000 shares of company stock valued at $2,435,830 in the last three months. 10.80% of the stock is owned by corporate insiders.

Liberty Broadband Profile

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.