Adage Capital Partners GP L.L.C. Increases Stock Position in Liberty Broadband Corporation $LBRDK

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Liberty Broadband Corporation by 21.2%, acquiring an additional 260,470 shares to own a total of 1,491,606 shares worth approximately $126.9 million.
• Institutional investors own 80.22% of Liberty Broadband, with several hedge funds such as Maverick Capital and Jane Street Group significantly boosting their stakes in the first quarter.
• Liberty Broadband's stock is currently priced at $60.86, with a year range between $57.91 and $104.00, and it has a market capitalization of $8.73 billion.

Adage Capital Partners GP L.L.C. increased its position in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 21.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,491,606 shares of the company's stock after buying an additional 260,470 shares during the period. Adage Capital Partners GP L.L.C. owned about 1.04% of Liberty Broadband worth $126,861,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. SouthState Corp acquired a new position in Liberty Broadband during the first quarter worth approximately $25,000. Vestor Capital LLC acquired a new position in Liberty Broadband in the first quarter valued at $44,000. Continuum Advisory LLC acquired a new position in Liberty Broadband in the first quarter valued at $58,000. Brooklyn Investment Group boosted its holdings in Liberty Broadband by 28.6% in the first quarter. Brooklyn Investment Group now owns 1,361 shares of the company's stock valued at $116,000 after acquiring an additional 303 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Liberty Broadband by 171.6% in the first quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock valued at $141,000 after acquiring an additional 1,047 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Liberty Broadband to a "hold" rating in a report on Saturday, July 12th.

Liberty Broadband Trading Up 0.8%

Shares of Liberty Broadband stock traded up $0.50 during trading hours on Friday, hitting $59.98. The company's stock had a trading volume of 1,241,120 shares, compared to its average volume of 1,125,309. Liberty Broadband Corporation has a 1-year low of $57.91 and a 1-year high of $104.00. The business has a fifty day moving average of $73.85 and a 200 day moving average of $82.66. The company has a market capitalization of $8.61 billion, a PE ratio of 7.91 and a beta of 0.97. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26.

Liberty Broadband Company Profile

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.