Arrowstreet Capital Limited Partnership Cuts Stock Position in Liberty Broadband Corporation $LBRDA

Key Points

• Arrowstreet Capital cut its Liberty Broadband stake by 71.6% in the first quarter, selling 204,230 shares and retaining 80,936 shares valued at approximately $4.1 million.
• Other institutional investors, including Squarepoint Ops, UBS Group, AllianceBernstein, and Norges Bank, increased or initiated positions; hedge funds and institutions collectively own 10.29% of LBRDA.
• Analyst sentiment remains bearish: Weiss Ratings reaffirmed a “sell” rating, and MarketBeat reports a consensus “Sell” rating. The stock opened at $33.85, well below its 52-week high of $65.40.

Arrowstreet Capital Limited Partnership cut its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Free Report) by 71.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,936 shares of the company's stock after selling 204,230 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.06% of Liberty Broadband worth $4,065,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LBRDA. Slotnik Capital LLC purchased a new stake in shares of Liberty Broadband during the fourth quarter worth about $12,731,000. Squarepoint Ops LLC boosted its stake in Liberty Broadband by 364.1% in the 3rd quarter. Squarepoint Ops LLC now owns 322,751 shares of the company's stock worth $20,440,000 after purchasing an additional 253,211 shares during the period. Norges Bank bought a new position in Liberty Broadband in the 4th quarter worth approximately $10,408,000. UBS Group AG grew its holdings in Liberty Broadband by 390.6% during the 4th quarter. UBS Group AG now owns 222,860 shares of the company's stock valued at $10,760,000 after buying an additional 177,431 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Liberty Broadband by 3,768.1% during the 3rd quarter. Alliancebernstein L.P. now owns 161,880 shares of the company's stock valued at $10,252,000 after buying an additional 157,695 shares in the last quarter. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Liberty Broadband in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Liberty Broadband Stock Performance

NASDAQ LBRDA opened at $33.85 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.09 and a quick ratio of 0.09. Liberty Broadband Corporation has a 1-year low of $26.14 and a 1-year high of $65.40. The business has a 50 day simple moving average of $31.76 and a two-hundred day simple moving average of $42.18. The stock has a market capitalization of $4.86 billion, a PE ratio of -4.84 and a beta of 0.64.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $1.41 EPS for the quarter.

About Liberty Broadband

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter's Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.