Millennium Management LLC Buys 164,780 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Millennium Management LLC increased its stake in Liberty Broadband Corporation by 33.4% during Q1, acquiring an additional 164,780 shares, bringing its total ownership to approximately 657,866 shares valued at $55,952,000.
• Other institutional investors, including HSBC Holdings and Jane Street Group, also significantly boosted their stakes in Liberty Broadband, with HSBC increasing its ownership by over 6,600% in the same quarter.
• Liberty Broadband's stock has a current market cap of $8.61 billion and is currently trading at around $59.98, with a significant disparity between its 12-month low of $57.91 and high of $104.00.

Millennium Management LLC boosted its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 33.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 657,866 shares of the company's stock after acquiring an additional 164,780 shares during the period. Millennium Management LLC owned 0.46% of Liberty Broadband worth $55,952,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LBRDK. Hsbc Holdings PLC lifted its position in Liberty Broadband by 6,649.1% during the 1st quarter. Hsbc Holdings PLC now owns 878,124 shares of the company's stock valued at $73,923,000 after acquiring an additional 865,113 shares during the period. Jane Street Group LLC lifted its position in Liberty Broadband by 283.7% during the 1st 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. Dimensional Fund Advisors LP lifted its position in Liberty Broadband by 13.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,310,698 shares of the company's stock valued at $196,522,000 after acquiring an additional 275,354 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in Liberty Broadband by 21.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,491,606 shares of the company's stock valued at $126,861,000 after acquiring an additional 260,470 shares during the period. Finally, Royal Bank of Canada lifted its position in Liberty Broadband by 33.2% during the 4th quarter. Royal Bank of Canada now owns 908,860 shares of the company's stock valued at $67,946,000 after acquiring an additional 226,360 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Liberty Broadband Stock Down 0.6%

Liberty Broadband stock traded down $0.37 during trading hours on Friday, hitting $60.43. The stock had a trading volume of 624,111 shares, compared to its average volume of 1,228,074. 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 stock has a market capitalization of $8.67 billion, a P/E ratio of 7.99 and a beta of 0.97. Liberty Broadband Corporation has a 12-month low of $57.75 and a 12-month high of $104.00. The stock's 50-day moving average price is $70.71 and its 200-day moving average price is $82.08.

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.