Tidal Investments LLC Buys 68,615 Shares of Liberty Broadband Corporation $LBRDK

Tidal Investments LLC raised its position in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 8.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 896,731 shares of the company’s stock after purchasing an additional 68,615 shares during the quarter. Tidal Investments LLC’s holdings in Liberty Broadband were worth $29,825,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of Liberty Broadband by 75.7% during the first quarter. Sei Investments Co. now owns 162,451 shares of the company’s stock worth $8,171,000 after buying an additional 69,971 shares during the period. Quantinno Capital Management LP lifted its holdings in Liberty Broadband by 30.8% in the first quarter. Quantinno Capital Management LP now owns 387,044 shares of the company’s stock valued at $19,468,000 after buying an additional 91,176 shares during the period. Investment Management Associates Inc. ADV lifted its holdings in Liberty Broadband by 8.8% in the first quarter. Investment Management Associates Inc. ADV now owns 467,220 shares of the company’s stock valued at $23,501,000 after buying an additional 37,936 shares during the period. Polar Asset Management Partners Inc. boosted its position in Liberty Broadband by 50.0% during the first quarter. Polar Asset Management Partners Inc. now owns 600,000 shares of the company’s stock valued at $30,180,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Liberty Broadband by 8.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,416,591 shares of the company’s stock valued at $80,376,000 after acquiring an additional 189,394 shares during the last quarter. Institutional investors own 80.22% of the company’s stock.

Liberty Broadband Price Performance

Shares of LBRDK opened at $36.02 on Thursday. Liberty Broadband Corporation has a 12-month low of $26.25 and a 12-month high of $65.72. The business’s fifty day moving average is $33.93 and its 200 day moving average is $39.67. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.17 billion, a P/E ratio of -5.15 and a beta of 0.64.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LBRDK. Weiss Ratings lowered Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Wall Street Zen cut Liberty Broadband from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Citigroup lowered their target price on Liberty Broadband from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Liberty Broadband has an average rating of “Hold” and a consensus price target of $42.00.

Liberty Broadband Company 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.