Squarepoint Ops LLC Has $9.01 Million Stock Holdings in Liberty Broadband Corporation $LBRDK

Squarepoint Ops LLC trimmed its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 12.1% in the second quarter, Holdings Channel.com reports. The firm owned 270,967 shares of the company’s stock after selling 37,233 shares during the quarter. Squarepoint Ops LLC’s holdings in Liberty Broadband were worth $9,012,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LBRDK. Sei Investments Co. raised its holdings 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 acquiring an additional 69,971 shares during the period. Quantinno Capital Management LP lifted its position in Liberty Broadband by 30.8% in the 1st quarter. Quantinno Capital Management LP now owns 387,044 shares of the company’s stock valued at $19,468,000 after acquiring an additional 91,176 shares in the last quarter. Investment Management Associates Inc. ADV boosted its stake in Liberty Broadband by 8.8% in the 1st quarter. Investment Management Associates Inc. ADV now owns 467,220 shares of the company’s stock worth $23,501,000 after purchasing an additional 37,936 shares during the period. Polar Asset Management Partners Inc. boosted its stake in Liberty Broadband by 50.0% in the 1st quarter. Polar Asset Management Partners Inc. now owns 600,000 shares of the company’s stock worth $30,180,000 after purchasing an additional 200,000 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Liberty Broadband by 8.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,416,591 shares of the company’s stock worth $80,376,000 after purchasing an additional 189,394 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Liberty Broadband Price Performance

Liberty Broadband stock opened at $36.02 on Friday. The company has a market cap of $5.17 billion, a P/E ratio of -5.15 and a beta of 0.64. Liberty Broadband Corporation has a 1-year low of $26.25 and a 1-year high of $65.72. The company has a fifty day simple moving average of $34.01 and a 200 day simple moving average of $39.55. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.10.

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.