Aspen Grove Capital LLC Acquires Shares of 288,156 Liberty Broadband Corporation $LBRDK

Key Points

• Aspen Grove Capital opened a new position in Liberty Broadband, buying 288,156 shares worth about $14.49 million in the first quarter. The stake represents about 0.20% of the company and roughly 2.8% of Aspen Grove’s portfolio.
• Other institutional investors also made notable moves in LBRDK, with firms like M&T Bank and UBS Group significantly increasing their holdings. Hedge funds and institutions now own about 80.22% of Liberty Broadband shares.
• Analyst sentiment remains weak, with the stock carrying an overall Sell rating after recent reports from Weiss Ratings and Wall Street Zen. Liberty Broadband was also down 2.3%, trading near its 52-week low at $29.71.

Aspen Grove Capital LLC bought a new position in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 288,156 shares of the company's stock, valued at approximately $14,494,000. Liberty Broadband makes up about 2.8% of Aspen Grove Capital LLC's holdings, making the stock its 12th biggest holding. Aspen Grove Capital LLC owned 0.20% of Liberty Broadband as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LBRDK. M&T Bank Corp raised its holdings in Liberty Broadband by 4,476.6% in the fourth quarter. M&T Bank Corp now owns 234,824 shares of the company's stock worth $12,421,000 after purchasing an additional 229,693 shares during the period. Banyan Capital Management Inc. bought a new position in Liberty Broadband during the fourth quarter worth about $3,366,000. Elser Financial Planning Inc acquired a new position in Liberty Broadband in the fourth quarter valued at about $1,538,000. Investment Management Associates Inc. ADV increased its holdings in shares of Liberty Broadband by 61.4% in the fourth quarter. Investment Management Associates Inc. ADV now owns 429,284 shares of the company's stock worth $20,863,000 after acquiring an additional 163,364 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Liberty Broadband by 301.3% during the fourth quarter. UBS Group AG now owns 1,505,070 shares of the company's stock worth $73,146,000 after purchasing an additional 1,130,044 shares during the period. Hedge funds and other institutional investors own 80.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. Wall Street Zen upgraded Liberty Broadband from a "strong sell" rating to a "sell" rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Liberty Broadband Stock Down 2.3%

NASDAQ:LBRDK opened at $29.71 on Friday. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -1.55 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. Liberty Broadband Corporation has a twelve month low of $28.94 and a twelve month high of $90.99. The stock's 50 day moving average price is $31.95 and its two-hundred day moving average price is $43.03.

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.

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