Liberty Broadband Corporation $LBRDK Shares Purchased by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management increased its Liberty Broadband stake by 50% in the first quarter, purchasing 200,000 additional shares to hold 600,000 shares worth approximately $30.18 million, or 0.42% of the company.
• Institutional investors own 80.22% of Liberty Broadband, with several hedge funds recently initiating or expanding positions.
• Despite the institutional interest, analysts maintain a bearish outlook: Liberty Broadband has a consensus “Sell” rating. The stock opened at $28.89, well below its 52-week high of $76.77.

Polar Asset Management Partners Inc. boosted its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 600,000 shares of the company's stock after purchasing an additional 200,000 shares during the period. Liberty Broadband makes up approximately 0.6% of Polar Asset Management Partners Inc.'s portfolio, making the stock its 20th biggest holding. Polar Asset Management Partners Inc. owned approximately 0.42% of Liberty Broadband worth $30,180,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Highlander Partners L.P. purchased a new stake in shares of Liberty Broadband during the 4th quarter valued at $26,000. eCIO Inc. purchased a new position in shares of Liberty Broadband in the 4th quarter worth $30,000. Johnson Financial Group Inc. acquired a new position in Liberty Broadband in the third quarter valued at $42,000. Rothschild Investment LLC boosted its holdings in Liberty Broadband by 7,253.8% in the fourth quarter. Rothschild Investment LLC now owns 956 shares of the company's stock valued at $46,000 after acquiring an additional 943 shares during the last quarter. Finally, Danske Bank A S acquired a new position in Liberty Broadband in the third quarter valued at $51,000. Institutional investors and hedge funds own 80.22% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LBRDK. Weiss Ratings restated a "sell (d)" rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. Wall Street Zen raised Liberty Broadband from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Liberty Broadband has a consensus rating of "Sell".

Liberty Broadband Price Performance

Liberty Broadband stock opened at $28.89 on Monday. Liberty Broadband Corporation has a 52-week low of $26.25 and a 52-week high of $76.77. The firm has a fifty day moving average of $31.87 and a 200-day moving average of $42.88. The firm has a market capitalization of $4.15 billion, a P/E ratio of -1.51 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company's primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.