Royal Bank of Canada Acquires 34,577 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• Royal Bank of Canada increased its Liberty Broadband stake by 8.4% in the first quarter, adding 34,577 shares to own 443,926 shares valued at approximately $22.3 million.
• Institutional investors hold about 80.22% of Liberty Broadband, with several other funds initiating or expanding positions during recent quarters.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock and Wall Street Zen lowered it to “strong sell,” while the broader consensus rating is “Sell.”

Royal Bank of Canada increased its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 443,926 shares of the company's stock after purchasing an additional 34,577 shares during the quarter. Royal Bank of Canada owned approximately 0.31% of Liberty Broadband worth $22,329,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LBRDK. Highlander Partners L.P. bought a new stake in Liberty Broadband during the 4th quarter worth about $26,000. Johnson Financial Group Inc. bought a new position in shares of Liberty Broadband in the 3rd quarter valued at about $42,000. Rothschild Investment LLC grew its holdings in shares of Liberty Broadband by 7,253.8% in the 4th quarter. Rothschild Investment LLC now owns 956 shares of the company's stock valued at $46,000 after acquiring an additional 943 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Liberty Broadband in the third quarter valued at about $51,000. Finally, Arax Advisory Partners acquired a new stake in shares of Liberty Broadband in the fourth quarter valued at about $51,000. Institutional investors own 80.22% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings cut Liberty Broadband from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday. Wall Street Zen lowered Liberty Broadband from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".

Liberty Broadband Stock Performance

LBRDK opened at $35.99 on Thursday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.10. Liberty Broadband Corporation has a 12-month low of $26.25 and a 12-month high of $65.72. The business has a 50 day moving average of $31.87 and a 200-day moving average of $42.11. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of -5.15 and a beta of 0.64.

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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