Royal Bank of Canada Sells 72,698 Shares of Liberty Broadband Corporation $LBRDK

Key Points

• The Royal Bank of Canada reduced its holdings in Liberty Broadband Corporation by 8.0%, owning 836,162 shares worth approximately $71.12 million as of its latest SEC filing.
• Deutsche Bank AG significantly increased its position in Liberty Broadband by 125.6%, now holding over 3 million shares worth about $228.78 million.
• Liberty Broadband's current share price is $59.48, with a twelve-month high of $104.00, and has a market capitalization of $8.53 billion.

Royal Bank of Canada lessened its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 8.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 836,162 shares of the company's stock after selling 72,698 shares during the quarter. Royal Bank of Canada owned about 0.58% of Liberty Broadband worth $71,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Baird Financial Group Inc. grew its stake in shares of Liberty Broadband by 1.3% in the 1st quarter. Baird Financial Group Inc. now owns 27,506 shares of the company's stock worth $2,339,000 after buying an additional 343 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Liberty Broadband by 6.9% in the first quarter. Evergreen Capital Management LLC now owns 9,134 shares of the company's stock worth $777,000 after acquiring an additional 593 shares in the last quarter. Magnetar Financial LLC grew its stake in shares of Liberty Broadband by 12.3% in the first quarter. Magnetar Financial LLC now owns 704,444 shares of the company's stock worth $59,913,000 after acquiring an additional 77,025 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Liberty Broadband by 283.7% during the first 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 in the last quarter. Finally, Comerica Bank raised its position in shares of Liberty Broadband by 13.1% in the 1st quarter. Comerica Bank now owns 25,666 shares of the company's stock worth $2,183,000 after purchasing an additional 2,972 shares during the last quarter. Institutional investors own 80.22% of the company's stock.

Analyst Upgrades and Downgrades

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

Liberty Broadband Stock Performance

NASDAQ:LBRDK traded down $0.06 during mid-day trading on Wednesday, reaching $60.40. The company's stock had a trading volume of 861,766 shares, compared to its average volume of 1,102,170. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26. The stock has a market cap of $8.67 billion, a P/E ratio of 7.97 and a beta of 0.97. The firm's fifty day moving average price is $71.51 and its two-hundred day moving average price is $82.23. Liberty Broadband Corporation has a 12-month low of $57.75 and a 12-month high of $104.00.

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.