Bank of America Corp DE Has $25.76 Million Stake in Liberty Broadband Corporation $LBRDK

Key Points

• Bank of America nearly doubled its Liberty Broadband stake in the first quarter, increasing holdings by 96.8% to 512,174 shares valued at approximately $25.76 million, or 0.36% of the company.
• Institutional investors and hedge funds own 80.22% of Liberty Broadband, while analysts maintain a consensus “Hold” rating with an average price target of $42.00.
• Liberty Broadband shares opened at $33.96 after a reported 6.5% decline, trading well below their 12-month high of $65.72; the company’s primary asset is its significant equity stake in Charter Communications.

Bank of America Corp DE raised its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 96.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 512,174 shares of the company's stock after purchasing an additional 251,927 shares during the period. Bank of America Corp DE owned 0.36% of Liberty Broadband worth $25,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highlander Partners L.P. acquired a new stake in Liberty Broadband during the 4th quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new stake in shares of Liberty Broadband in the 3rd quarter valued at $42,000. Rothschild Investment LLC boosted its stake in shares of Liberty Broadband by 7,253.8% in the 4th quarter. Rothschild Investment LLC now owns 956 shares of the company's stock valued at $46,000 after purchasing an additional 943 shares during the last quarter. Danske Bank A S bought a new stake in shares of Liberty Broadband in the 3rd quarter valued at $51,000. Finally, Arax Advisory Partners acquired a new stake in shares of Liberty Broadband during the fourth quarter worth $51,000. 80.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on LBRDK shares. Weiss Ratings lowered shares of Liberty Broadband from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, August 3rd. Citigroup decreased their price target on Liberty Broadband from $54.00 to $42.00 and set a "buy" rating for the company in a report on Friday. Finally, Wall Street Zen lowered Liberty Broadband from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Liberty Broadband presently has a consensus rating of "Hold" and an average target price of $42.00.

Liberty Broadband Stock Down 6.5%

Liberty Broadband stock opened at $33.96 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.10. Liberty Broadband Corporation has a 12-month low of $26.25 and a 12-month high of $65.72. The firm's fifty day moving average is $32.51 and its 200 day moving average is $41.66. The company has a market capitalization of $4.87 billion, a PE ratio of -4.86 and a beta of 0.64.

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.

Want to see what other hedge funds are holding LBRDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source