Nuveen LLC Buys New Stake in Liberty Broadband Corporation $LBRDK

Key Points

• Nuveen LLC has acquired a new position in Liberty Broadband Corporation, purchasing 214,005 shares valued at approximately $18.2 million, giving it a 0.15% ownership in the company.
• Several other institutional investors, including Vestor Capital LLC and Continuum Advisory LLC, have also initiated or increased their stakes in Liberty Broadband during the first quarter of the year.
• Wall Street analysts have upgraded Liberty Broadband to a "hold" rating, with shares currently trading at around $61.40, below its 12-month high of $104.00.

Nuveen LLC acquired a new stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 214,005 shares of the company's stock, valued at approximately $18,201,000. Nuveen LLC owned 0.15% of Liberty Broadband as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LPL Financial LLC raised its position in Liberty Broadband by 11.6% in the fourth quarter. LPL Financial LLC now owns 5,755 shares of the company's stock worth $430,000 after acquiring an additional 599 shares during the period. Russell Investments Group Ltd. raised its position in shares of Liberty Broadband by 10.4% during 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. bought a new stake in shares of Liberty Broadband during the 4th quarter valued at $949,000. Guggenheim Capital LLC raised its position in shares of Liberty Broadband by 111.0% during the 4th quarter. Guggenheim Capital LLC now owns 11,503 shares of the company's stock valued at $860,000 after purchasing an additional 6,052 shares during the period. Finally, Forum Financial Management LP raised its position in shares of Liberty Broadband by 32.4% during the 4th quarter. Forum Financial Management LP now owns 3,678 shares of the company's stock valued at $275,000 after purchasing an additional 901 shares during the period. Institutional investors own 80.22% of the company's stock.

Analyst Upgrades and Downgrades

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

Liberty Broadband Price Performance

Shares of LBRDK stock traded down $0.97 on Monday, hitting $62.65. 631,879 shares of the stock traded hands, compared to its average volume of 2,119,545. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 8.27 and a beta of 0.96. The firm has a 50 day simple moving average of $79.64 and a two-hundred day simple moving average of $83.93. Liberty Broadband Corporation has a 52 week low of $57.91 and a 52 week high of $104.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick 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.