Assenagon Asset Management S.A. Sells 818,338 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Assenagon Asset Management S.A. reduced its stake in Liberty Broadband Corporation by 25.3%, now holding approximately 1.69% of the company, valued at $237.7 million.
• The stock price of Liberty Broadband Corporation increased 0.2% to $60.41, with a market capitalization of $8.67 billion.
• Wall Street Zen upgraded Liberty Broadband to a "hold" rating on July 12, reflecting changing sentiment among analysts towards the stock.

Assenagon Asset Management S.A. decreased its position in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 25.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,416,317 shares of the company's stock after selling 818,338 shares during the quarter. Assenagon Asset Management S.A. owned about 1.69% of Liberty Broadband worth $237,717,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LBRDK. Ameriprise Financial Inc. grew its position in Liberty Broadband by 0.5% during the fourth quarter. Ameriprise Financial Inc. now owns 27,909 shares of the company's stock worth $2,086,000 after buying an additional 131 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Liberty Broadband in the 4th quarter valued at $254,000. ProShare Advisors LLC acquired a new stake in shares of Liberty Broadband in the 4th quarter valued at $221,000. Tidal Investments LLC boosted its holdings in shares of Liberty Broadband by 13.5% in the 4th quarter. Tidal Investments LLC now owns 3,182 shares of the company's stock valued at $238,000 after purchasing an additional 379 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Liberty Broadband in the 4th quarter valued at $4,991,000. Institutional investors and hedge funds own 80.22% of the company's stock.

Analyst Ratings Changes

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

Liberty Broadband Trading Up 2.3%

Shares of LBRDK stock traded up $1.43 during mid-day trading on Tuesday, hitting $62.64. The company's stock had a trading volume of 583,547 shares, compared to its average volume of 1,229,973. The company's fifty day simple moving average is $65.50 and its 200-day simple moving average is $80.93. The company has a market cap of $8.99 billion, a PE ratio of 8.26 and a beta of 0.97. 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 Corporation has a 52 week low of $57.75 and a 52 week high of $104.00.

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.