Hsbc Holdings PLC Acquires 865,113 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Hsbc Holdings PLC significantly increased its stake in Liberty Broadband Corporation, purchasing an additional 865,113 shares, bringing its total holdings to 878,124 shares, worth approximately $73.9 million.
• Institutional investors and hedge funds now own about 80.22% of Liberty Broadband's stock, indicating strong institutional confidence in the company.
• Despite this positive development, Liberty Broadband's stock has recently shown a minor decline of 0.3% and is currently trading at $61.21, which is below its 12-month high of $104.00.

Hsbc Holdings PLC raised its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 6,649.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 878,124 shares of the company's stock after acquiring an additional 865,113 shares during the period. Hsbc Holdings PLC owned approximately 0.61% of Liberty Broadband worth $73,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LBRDK. Deutsche Bank AG lifted its stake in Liberty Broadband by 125.6% during the 4th quarter. Deutsche Bank AG now owns 3,060,143 shares of the company's stock valued at $228,776,000 after acquiring an additional 1,703,637 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in Liberty Broadband by 425.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,231,136 shares of the company's stock valued at $92,040,000 after acquiring an additional 996,764 shares during the period. Pentwater Capital Management LP lifted its stake in Liberty Broadband by 454.0% during the 4th quarter. Pentwater Capital Management LP now owns 1,108,000 shares of the company's stock valued at $82,834,000 after acquiring an additional 908,000 shares during the period. Makaira Partners LLC lifted its stake in Liberty Broadband by 219.6% during the 4th quarter. Makaira Partners LLC now owns 1,244,270 shares of the company's stock valued at $93,022,000 after acquiring an additional 854,954 shares during the period. Finally, Benchstone Capital Management LP bought a new position in Liberty Broadband during the 4th quarter valued at about $41,221,000. Institutional investors own 80.22% of the company's stock.

Analysts Set New Price Targets

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

Liberty Broadband Stock Performance

Liberty Broadband stock traded up $2.13 during midday trading on Friday, hitting $63.62. The stock had a trading volume of 825,432 shares, compared to its average volume of 2,311,082. The firm's fifty day moving average is $80.18 and its two-hundred day moving average is $84.00. The company has a market capitalization of $9.13 billion, a PE ratio of 8.39 and a beta of 0.96. Liberty Broadband Corporation has a 52-week low of $57.91 and a 52-week high of $104.00. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26.

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.