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. reduced its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 119,044 shares of the company's stock after selling 26,396 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Liberty Broadband worth $10,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vestor Capital LLC acquired a new position in Liberty Broadband in the 1st quarter valued at approximately $44,000. Continuum Advisory LLC bought a new stake in shares of Liberty Broadband in the 1st quarter valued at $58,000. Quarry LP boosted its stake in shares of Liberty Broadband by 131.6% in the 4th quarter. Quarry LP now owns 836 shares of the company's stock valued at $62,000 after purchasing an additional 475 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Liberty Broadband by 171.6% in the 1st quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock valued at $141,000 after purchasing an additional 1,047 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Liberty Broadband by 6.4% in the 1st quarter. CWM LLC now owns 2,309 shares of the company's stock valued at $196,000 after purchasing an additional 138 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Stock Performance

LBRDK traded up $0.28 during trading on Thursday, hitting $61.49. 947,185 shares of the company traded hands, compared to its average volume of 2,351,596. The firm has a market cap of $8.82 billion, a P/E ratio of 8.11 and a beta of 0.96. The stock's fifty day moving average is $80.75 and its 200 day moving average is $84.04. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. Liberty Broadband Corporation has a one year low of $57.91 and a one year high of $104.00.

Analysts Set New Price Targets

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

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.