Norges Bank Makes New $180.88 Million Investment in Liberty Broadband Corporation $LBRDK

Norges Bank purchased a new position in Liberty Broadband Corporation (NASDAQ:LBRDK) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,721,829 shares of the company’s stock, valued at approximately $180,881,000.

A number of other large investors have also added to or reduced their stakes in LBRDK. JPMorgan Chase & Co. lifted its position in shares of Liberty Broadband by 493.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,270,557 shares of the company’s stock worth $144,271,000 after purchasing an additional 1,887,742 shares during the period. DLD Asset Management LP purchased a new stake in shares of Liberty Broadband in the 3rd quarter worth about $4,636,000. M&T Bank Corp lifted its position in shares of Liberty Broadband by 4,476.6% in the 4th quarter. M&T Bank Corp now owns 234,824 shares of the company’s stock worth $12,421,000 after purchasing an additional 229,693 shares during the period. Athos Capital Ltd purchased a new stake in shares of Liberty Broadband in the 3rd quarter worth about $10,746,000. Finally, Hudson Bay Capital Management LP lifted its position in shares of Liberty Broadband by 32.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 165,000 shares of the company’s stock worth $10,484,000 after purchasing an additional 40,000 shares during the period. Institutional investors own 80.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on LBRDK. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research report on Friday, March 27th. Wall Street Zen raised shares of Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Liberty Broadband Trading Down 8.2%

Shares of NASDAQ LBRDK opened at $30.16 on Thursday. Liberty Broadband Corporation has a 1 year low of $30.11 and a 1 year high of $101.46. The stock has a market cap of $4.33 billion, a P/E ratio of -1.57 and a beta of 0.66. The firm has a 50-day moving average of $43.16 and a 200 day moving average of $47.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.09.

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.