Amundi Lowers Stock Holdings in Liberty Broadband Corporation $LBRDK

Key Points

• Amundi cut its Liberty Broadband stake by 7.6% in the first quarter, selling 33,969 shares and retaining 415,839 shares worth about $20.9 million. Institutional investors collectively own 80.22% of the company.
• Analyst sentiment remains negative: Weiss Ratings maintained a “sell” rating, Wall Street Zen downgraded the stock to “strong sell,” and MarketBeat reports an average rating of “Sell.”
• Liberty Broadband shares opened at $33.86, down 0.5%, with a market capitalization of approximately $4.86 billion. The stock has traded between $26.25 and $65.72 over the past year and remains well below its 200-day moving average of $42.25.

Amundi reduced its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 7.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 415,839 shares of the company's stock after selling 33,969 shares during the quarter. Amundi owned approximately 0.29% of Liberty Broadband worth $20,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Highlander Partners L.P. acquired a new position in shares of Liberty Broadband during the 4th quarter valued at about $26,000. eCIO Inc. acquired a new stake in shares of Liberty Broadband in the fourth quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new stake in Liberty Broadband in the third quarter valued at approximately $42,000. Rothschild Investment LLC increased its position in Liberty Broadband by 7,253.8% during the fourth quarter. Rothschild Investment LLC now owns 956 shares of the company's stock worth $46,000 after purchasing an additional 943 shares during the last quarter. Finally, Danske Bank A S acquired a new position in Liberty Broadband during the third quarter worth approximately $51,000. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LBRDK has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Liberty Broadband from a "sell" rating to a "strong sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell".

Liberty Broadband Stock Down 0.5%

LBRDK opened at $33.86 on Tuesday. The firm has a 50 day moving average price of $31.80 and a 200 day moving average price of $42.25. The company has a market cap of $4.86 billion, a PE ratio of -4.84 and a beta of 0.65. Liberty Broadband Corporation has a 1 year low of $26.25 and a 1 year high of $65.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.09 and a current ratio of 0.09.

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.

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