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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LBRDK. SouthState Corp acquired a new stake in shares of Liberty Broadband during the 1st quarter worth approximately $25,000. Vestor Capital LLC acquired a new stake in shares of Liberty Broadband during the 1st quarter worth approximately $44,000. Continuum Advisory LLC acquired a new stake in shares of Liberty Broadband during the 1st quarter worth approximately $58,000. Brooklyn Investment Group boosted its stake in Liberty Broadband by 28.6% in the 1st quarter. Brooklyn Investment Group now owns 1,361 shares of the company's stock valued at $116,000 after buying an additional 303 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Liberty Broadband by 171.6% in the 1st quarter. Versant Capital Management Inc now owns 1,657 shares of the company's stock valued at $141,000 after buying an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company's stock.

Liberty Broadband Price Performance

LBRDK stock traded down $0.24 during trading on Friday, hitting $60.55. The company had a trading volume of 1,022,839 shares, compared to its average volume of 1,039,641. The company has a fifty day moving average price of $69.91 and a two-hundred day moving average price of $81.96. 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 Corporation has a fifty-two week low of $57.75 and a fifty-two week high of $104.00. The company has a market cap of $8.69 billion, a P/E ratio of 7.99 and a beta of 0.97.

Analyst Ratings Changes

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

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.