Invesco Ltd. Sells 83,510 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Invesco Ltd. has reduced its stake in Liberty Broadband Corporation by 14.7%, selling 83,510 shares during the first quarter of the year.
• After the sale, Invesco still holds about 484,045 shares valued at approximately $41.17 million, which represents 0.34% of Liberty Broadband's total stock.
• Wall Street analysts have given Liberty Broadband a "hold" rating, despite the stock trading slightly down by 0.3% with a current share price of $61.38.

Invesco Ltd. cut its position in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 14.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 484,045 shares of the company's stock after selling 83,510 shares during the quarter. Invesco Ltd. owned about 0.34% of Liberty Broadband worth $41,168,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LBRDK. LPL Financial LLC boosted its stake in Liberty Broadband by 11.6% in the 4th quarter. LPL Financial LLC now owns 5,755 shares of the company's stock valued at $430,000 after purchasing an additional 599 shares during the period. Russell Investments Group Ltd. boosted its stake in Liberty Broadband by 10.4% in the 4th quarter. Russell Investments Group Ltd. now owns 12,919 shares of the company's stock valued at $966,000 after purchasing an additional 1,218 shares during the period. Raymond James Financial Inc. acquired a new position in Liberty Broadband in the 4th quarter valued at $949,000. Guggenheim Capital LLC raised its holdings in Liberty Broadband by 111.0% in the 4th quarter. Guggenheim Capital LLC now owns 11,503 shares of the company's stock valued at $860,000 after acquiring an additional 6,052 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Liberty Broadband by 331.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 228,200 shares of the company's stock valued at $17,060,000 after acquiring an additional 175,300 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Liberty Broadband Stock Performance

NASDAQ LBRDK traded up $1.8450 on Friday, hitting $63.3350. 596,061 shares of the stock traded hands, compared to its average volume of 1,244,470. The business's fifty day moving average is $80.75 and its two-hundred day moving average is $84.04. Liberty Broadband Corporation has a 12 month low of $57.91 and a 12 month high of $104.00. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 8.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.60 and a current ratio of 0.60.

Liberty Broadband 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.