Picton Mahoney Asset Management Purchases New Shares in Liberty Broadband Corporation $LBRDK

Key Points

• Picton Mahoney Asset Management bought a new stake of 225,000 shares of Liberty Broadband in Q3 (~$14.3M), representing about 0.16% of the company.
• Other institutions were active: JPMorgan Chase increased its holding by 493.1% to 2,270,557 shares (~$144.3M) and Alpine Associates opened a new ~$32.3M position, with hedge funds/institutions owning roughly 80.22% of the stock.
• Analyst sentiment is negative—Liberty Broadband has an average "Sell" rating after recent downgrades—and insiders have been net sellers (49,571 shares sold in the last 90 days), though insiders still hold 10.8%.

Picton Mahoney Asset Management acquired a new stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 225,000 shares of the company's stock, valued at approximately $14,297,000. Picton Mahoney Asset Management owned 0.16% of Liberty Broadband at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LBRDK. Charles Schwab Investment Management Inc. raised its stake in Liberty Broadband by 0.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,025,474 shares of the company's stock worth $100,886,000 after buying an additional 5,763 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Liberty Broadband by 493.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,270,557 shares of the company's stock worth $144,271,000 after acquiring an additional 1,887,742 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Liberty Broadband in the 3rd quarter worth approximately $32,323,000. Optimize Financial Inc purchased a new position in shares of Liberty Broadband in the 3rd quarter valued at approximately $1,568,000. Finally, Bank of Nova Scotia lifted its stake in shares of Liberty Broadband by 116.3% in the 2nd quarter. Bank of Nova Scotia now owns 124,611 shares of the company's stock valued at $12,259,000 after purchasing an additional 67,000 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LBRDK has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of Liberty Broadband in a report on Monday, December 29th. Wall Street Zen lowered shares of Liberty Broadband from a "hold" rating to a "sell" rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Liberty Broadband has an average rating of "Sell".

Insider Transactions at Liberty Broadband

In other news, Director J David Wargo sold 2,232 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $57.61, for a total transaction of $128,585.52. Following the transaction, the director directly owned 471 shares of the company's stock, valued at $27,134.31. This represents a 82.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 49,571 shares of company stock valued at $2,811,642 in the last 90 days. Company insiders own 10.80% of the company's stock.

Liberty Broadband Trading Up 1.2%

NASDAQ LBRDK opened at $54.06 on Thursday. Liberty Broadband Corporation has a 12 month low of $42.10 and a 12 month high of $104.00. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average price is $49.98 and its 200-day moving average price is $53.40. The stock has a market cap of $7.76 billion, a P/E ratio of -2.89 and a beta of 0.95.

About Liberty Broadband

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.

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