Russell Investments Group Ltd. Raises Holdings in Liberty Broadband Corporation $LBRDK

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Liberty Broadband Corporation by 80.3% in the first quarter, bringing its total holdings to 23,290 shares valued at approximately $1,981,000.
• Other institutional investors, including the Teacher Retirement System of Texas and Amalgamated Bank, have also made moves to increase their stakes in Liberty Broadband, with institutional ownership now at 80.22%.
• Wall Street analysts have recently upgraded Liberty Broadband to a "hold" rating, indicating a positive outlook for the stock amid a current market capitalization of $8.77 billion.

Russell Investments Group Ltd. grew its holdings in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 80.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,290 shares of the company's stock after buying an additional 10,371 shares during the period. Russell Investments Group Ltd.'s holdings in Liberty Broadband were worth $1,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Liberty Broadband during the 4th quarter valued at about $949,000. Stifel Financial Corp raised its position in Liberty Broadband by 2.6% during the 4th quarter. Stifel Financial Corp now owns 96,914 shares of the company's stock valued at $7,245,000 after purchasing an additional 2,453 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Liberty Broadband by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 495,297 shares of the company's stock valued at $37,029,000 after purchasing an additional 93,405 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Liberty Broadband in the 4th quarter worth $255,000. Finally, Quarry LP grew its position in shares of Liberty Broadband by 131.6% during the 4th quarter. Quarry LP now owns 836 shares of the company's stock worth $62,000 after buying an additional 475 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Liberty Broadband Stock Performance

LBRDK stock traded up $0.37 during trading on Friday, hitting $60.86. 921,185 shares of the company traded hands, compared to its average volume of 1,599,708. The stock's 50-day simple moving average is $77.93 and its 200 day simple moving average is $83.51. Liberty Broadband Corporation has a 1 year low of $57.91 and a 1 year high of $104.00. The company has a market cap of $8.73 billion, a PE ratio of 8.03 and a beta of 0.96. 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 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.