Banyan Capital Management Inc. Acquires New Position in Liberty Broadband Corporation $LBRDK

Key Points

• Banyan Capital Management acquired 69,261 shares of Liberty Broadband (about $3.37M) in Q4, representing roughly 1.5% of its holdings and the stock became the firm's 19th-largest position.
• Shares opened at $38.63 (down 3.7%), trading near a 52-week low of $36.60 with a market cap of $5.54B and a negative P/E of -2.02.
• Wall Street analysts have a consensus rating of Sell, and insider Director J David Wargo sold 44,450 shares in February, reducing his ownership by about 69.9%.

Banyan Capital Management Inc. acquired a new stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 69,261 shares of the company's stock, valued at approximately $3,366,000. Liberty Broadband makes up about 1.5% of Banyan Capital Management Inc.'s holdings, making the stock its 19th largest holding.

Other large investors also recently modified their holdings of the company. Wolverine Asset Management LLC grew its position in Liberty Broadband by 28.2% during the 4th quarter. Wolverine Asset Management LLC now owns 52,322 shares of the company's stock worth $2,543,000 after acquiring an additional 11,509 shares during the last quarter. Balentine LLC bought a new position in Liberty Broadband during the 4th quarter worth approximately $205,000. State of New Jersey Common Pension Fund D grew its position in Liberty Broadband by 1.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 49,565 shares of the company's stock worth $2,409,000 after acquiring an additional 692 shares during the last quarter. M&T Bank Corp grew its position in Liberty Broadband by 23.9% during the 4th quarter. M&T Bank Corp now owns 6,359 shares of the company's stock worth $309,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Comerica Bank grew its position in Liberty Broadband by 30.3% during the 4th quarter. Comerica Bank now owns 20,678 shares of the company's stock worth $1,005,000 after acquiring an additional 4,814 shares during the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Broadband Stock Down 3.7%

Shares of NASDAQ:LBRDK opened at $38.63 on Tuesday. Liberty Broadband Corporation has a 52-week low of $36.60 and a 52-week high of $104.00. The firm has a market capitalization of $5.54 billion, a P/E ratio of -2.02 and a beta of 0.70. The stock has a 50 day moving average price of $51.05 and a 200-day moving average price of $50.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LBRDK. Wall Street Zen upgraded Liberty Broadband from a "strong sell" rating to a "sell" rating in a report on Saturday. Weiss Ratings reiterated a "sell (d)" rating on shares of Liberty Broadband in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Liberty Broadband has a consensus rating of "Sell".

Insider Buying and Selling at Liberty Broadband

In other Liberty Broadband news, Director J David Wargo sold 44,450 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $57.30, for a total transaction of $2,546,985.00. Following the completion of the transaction, the director owned 19,150 shares of the company's stock, valued at approximately $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.80% of the company's stock.

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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