Citigroup Inc. Sells 26,396 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Citigroup Inc. reduced its stake in Liberty Broadband Corporation by 18.1% during the first quarter, holding 119,044 shares valued at over $10 million.
• Other institutional investors, including Headlands Technologies LLC and ING Groep NV, have also increased their stakes in Liberty Broadband, reflecting strong institutional interest in the company.
• Liberty Broadband's shares opened at $61.58, with a market capitalization of $8.83 billion and a recent upgrade to a "hold" rating by analysts at Wall Street Zen.

Citigroup Inc. decreased its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 18.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,044 shares of the company's stock after selling 26,396 shares during the quarter. Citigroup Inc. owned about 0.08% of Liberty Broadband worth $10,125,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vestor Capital LLC purchased a new position in Liberty Broadband during the first quarter valued at $44,000. Continuum Advisory LLC purchased a new position in Liberty Broadband during the first quarter valued at $58,000. Quarry LP raised its stake in Liberty Broadband by 131.6% during the fourth quarter. Quarry LP now owns 836 shares of the company's stock valued at $62,000 after buying an additional 475 shares during the last quarter. Versant Capital Management Inc raised its stake in Liberty Broadband by 171.6% during the first quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock valued at $141,000 after buying an additional 1,047 shares during the last quarter. Finally, CWM LLC raised its stake in Liberty Broadband by 6.4% during the first quarter. CWM LLC now owns 2,309 shares of the company's stock valued at $196,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Liberty Broadband to a "hold" rating in a research note on Saturday, July 12th.

Liberty Broadband Stock Performance

Liberty Broadband stock traded down $0.2450 during mid-day trading on Wednesday, reaching $61.1550. 595,270 shares of the stock traded hands, compared to its average volume of 1,244,008. The stock has a market capitalization of $8.78 billion, a PE ratio of 8.07 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. Liberty Broadband Corporation has a 12-month low of $57.91 and a 12-month high of $104.00. The business's 50-day moving average is $82.07 and its 200-day moving average is $84.30.

Liberty Broadband Company Profile

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.