Gamco Investors INC. ET AL Raises Holdings in Liberty Broadband Corporation $LBRDA

Gamco Investors INC. ET AL grew its holdings in Liberty Broadband Corporation (NASDAQ:LBRDA) by 65.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 139,204 shares of the company’s stock after buying an additional 55,211 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Liberty Broadband were worth $8,816,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Liberty Broadband by 31.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 467,550 shares of the company’s stock valued at $45,736,000 after purchasing an additional 111,853 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Liberty Broadband during the 2nd quarter valued at approximately $1,322,000. JPMorgan Chase & Co. increased its stake in Liberty Broadband by 653.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 114,893 shares of the company’s stock valued at $11,239,000 after purchasing an additional 99,645 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Liberty Broadband in the second quarter valued at $6,802,000. Finally, Norges Bank purchased a new stake in shares of Liberty Broadband in the 2nd quarter worth about $21,089,000. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Broadband Trading Up 1.0%

Shares of Liberty Broadband stock opened at $54.07 on Monday. Liberty Broadband Corporation has a fifty-two week low of $42.05 and a fifty-two week high of $102.38. The business’s fifty day moving average is $50.05 and its two-hundred day moving average is $53.04. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.14. The firm has a market cap of $7.76 billion, a PE ratio of -2.89 and a beta of 0.95.

Insider Buying and Selling

In related news, Director J David Wargo sold 44,450 shares of Liberty Broadband stock in a transaction on 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 owned 19,150 shares in the company, valued at approximately $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.59% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $115.00.

Liberty Broadband Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.