Gabelli Funds LLC Sells 5,250 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Gabelli Funds LLC reduced its stake in Liberty Broadband Corporation by 2.2%, holding 233,733 shares valued at approximately $19.88 million as of the latest SEC filing.
• Institutional investors and hedge funds collectively own 80.22% of Liberty Broadband's stock, with recent positions acquired by SouthState Corp and Vestor Capital LLC.
• Analysts at Wall Street Zen have upgraded Liberty Broadband to a "hold" rating, reflecting evolving market sentiment on the stock.

Gabelli Funds LLC cut its position in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,733 shares of the company's stock after selling 5,250 shares during the period. Gabelli Funds LLC owned 0.16% of Liberty Broadband worth $19,879,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LBRDK. Jane Street Group LLC grew its stake in Liberty Broadband by 283.7% in the first quarter. Jane Street Group LLC now owns 396,532 shares of the company's stock valued at $33,725,000 after acquiring an additional 293,176 shares during the period. Comerica Bank raised its position in shares of Liberty Broadband by 13.1% during the first quarter. Comerica Bank now owns 25,666 shares of the company's stock worth $2,183,000 after purchasing an additional 2,972 shares during the period. Compound Planning Inc. lifted its holdings in shares of Liberty Broadband by 34.9% in the 1st quarter. Compound Planning Inc. now owns 3,796 shares of the company's stock worth $323,000 after purchasing an additional 982 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Liberty Broadband by 33.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 659,330 shares of the company's stock valued at $56,077,000 after purchasing an additional 164,033 shares during the period. Finally, Hsbc Holdings PLC grew its position in Liberty Broadband by 6,649.1% in the 1st quarter. Hsbc Holdings PLC now owns 878,124 shares of the company's stock valued at $73,923,000 after purchasing an additional 865,113 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Liberty Broadband Stock Up 0.6%

NASDAQ LBRDK traded up $0.37 on Friday, reaching $60.86. The company had a trading volume of 921,185 shares, compared to its average volume of 1,599,708. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.26. The company's fifty day moving average is $77.30 and its 200 day moving average is $83.38. Liberty Broadband Corporation has a 52-week low of $57.91 and a 52-week high of $104.00. The stock has a market capitalization of $8.73 billion, a P/E ratio of 8.03 and a beta of 0.96.

About Liberty Broadband

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.