Alberta Investment Management Corp Purchases 149,900 Shares of Liberty Broadband Corporation $LBRDK

Alberta Investment Management Corp raised its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 124.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 270,000 shares of the company’s stock after acquiring an additional 149,900 shares during the quarter. Alberta Investment Management Corp’s holdings in Liberty Broadband were worth $17,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of LBRDK. JPMorgan Chase & Co. lifted its stake in shares of Liberty Broadband by 493.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,270,557 shares of the company’s stock valued at $144,271,000 after buying an additional 1,887,742 shares in the last quarter. Norges Bank purchased a new position in Liberty Broadband in the 2nd quarter valued at approximately $137,249,000. Arrowstreet Capital Limited Partnership raised its holdings in Liberty Broadband by 71.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,557,714 shares of the company’s stock valued at $153,248,000 after acquiring an additional 648,125 shares during the period. Baupost Group LLC MA lifted its position in shares of Liberty Broadband by 337.0% during the second quarter. Baupost Group LLC MA now owns 745,610 shares of the company’s stock worth $73,353,000 after acquiring an additional 575,000 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new stake in shares of Liberty Broadband during the third quarter worth $32,323,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Insider Buying and Selling

In other Liberty Broadband news, Director J David Wargo sold 44,450 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $57.30, for a total value of $2,546,985.00. Following the transaction, the director directly owned 19,150 shares in the company, valued at $1,097,295. This represents a 69.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 49,571 shares of company stock worth $2,811,642 in the last three months. 10.80% of the stock is owned by insiders.

Liberty Broadband Stock Up 1.0%

LBRDK opened at $55.66 on Thursday. The firm has a market capitalization of $7.99 billion, a P/E ratio of 10.08 and a beta of 0.99. Liberty Broadband Corporation has a one year low of $42.10 and a one year high of $104.00. The company has a fifty day moving average price of $48.92 and a 200-day moving average price of $53.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.10 and a quick ratio of 0.10.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Liberty Broadband from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Liberty Broadband 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.