Assenagon Asset Management S.A. Increases Stake in Liberty Broadband Corporation $LBRDK

Key Points

• Assenagon Asset Management increased its Liberty Broadband stake by 8.5% in the second quarter, adding 189,394 shares to hold 2.42 million shares worth approximately $80.4 million, or 1.68% of the company.
• Institutional ownership remains high at 80.22%, with several other investors—including M&T Bank, Sei Investments and Quantinno Capital—also expanding their positions.
• Analyst sentiment is negative: Liberty Broadband has a consensus “Sell” rating, while its shares recently traded at $35.88, well below the 52-week high of $65.72.

Assenagon Asset Management S.A. boosted its stake in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 8.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,416,591 shares of the company's stock after purchasing an additional 189,394 shares during the quarter. Assenagon Asset Management S.A. owned about 1.68% of Liberty Broadband worth $80,376,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Banyan Capital Management Inc. purchased a new position in shares of Liberty Broadband in the 4th quarter worth about $3,366,000. M&T Bank Corp lifted its position in Liberty Broadband by 4,476.6% during the fourth quarter. M&T Bank Corp now owns 234,824 shares of the company's stock valued at $12,421,000 after buying an additional 229,693 shares in the last quarter. Investment Management Associates Inc. ADV grew its stake in Liberty Broadband by 8.8% during the first quarter. Investment Management Associates Inc. ADV now owns 467,220 shares of the company's stock worth $23,501,000 after buying an additional 37,936 shares during the period. Sei Investments Co. increased its position in shares of Liberty Broadband by 75.7% in 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 in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Liberty Broadband by 30.8% during 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. Hedge funds and other institutional investors own 80.22% of the company's stock.

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock opened at $35.88 on Friday. The firm has a market cap of $5.15 billion, a PE ratio of -5.13 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 firm's 50-day simple moving average is $31.97 and its 200-day simple moving average is $42.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.09 and a current ratio of 0.09.

Analysts Set New Price Targets

Several research firms have commented on LBRDK. Wall Street Zen lowered Liberty Broadband from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Weiss Ratings downgraded Liberty Broadband from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Sell".

Liberty Broadband 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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