Sendero Wealth Management LLC Reduces Stake in Liberty Broadband Corporation $LBRDK

Key Points

• Sendero Wealth Management cut its stake in Liberty Broadband by 81.4% in Q4, selling 35,501 shares and retaining 8,137 shares worth $395,000.
• Large institutions largely added to positions—Vanguard holds 11,162,599 shares (~$709.3M), Assenagon bought 1,035,126 shares in Q4 and JPMorgan increased its stake by 493.1%—with institutional ownership at about 80.22%.
• Director J. David Wargo sold 44,450 shares on Feb 10 at an average price of $57.30 (a 69.89% reduction in his holdings); insiders own 10.8% of the stock.

Sendero Wealth Management LLC cut its stake in Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 81.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,137 shares of the company's stock after selling 35,501 shares during the quarter. Sendero Wealth Management LLC's holdings in Liberty Broadband were worth $395,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Liberty Broadband by 1.7% in the third quarter. Vanguard Group Inc. now owns 11,162,599 shares of the company's stock valued at $709,272,000 after purchasing an additional 184,623 shares during the period. Dimensional Fund Advisors LP raised its stake in Liberty Broadband by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,943,136 shares of the company's stock worth $187,006,000 after purchasing an additional 171,378 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Liberty Broadband by 58.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,793,954 shares of the company's stock valued at $135,786,000 after purchasing an additional 1,035,126 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Liberty Broadband by 493.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,270,557 shares of the company's stock valued at $144,271,000 after purchasing an additional 1,887,742 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Liberty Broadband by 50.6% in the 3rd quarter. Millennium Management LLC now owns 2,048,435 shares of the company's stock valued at $130,158,000 after buying an additional 688,092 shares during the period. Hedge funds and other institutional investors own 80.22% of the company's stock.

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock opened at $51.04 on Friday. The firm has a market cap of $7.32 billion, a PE ratio of -2.73 and a beta of 0.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.14. Liberty Broadband Corporation has a 52 week low of $42.10 and a 52 week high of $104.00. The business's fifty day simple moving average is $51.02 and its 200-day simple moving average is $52.27.

Insider Buying and Selling

In other Liberty Broadband news, Director J David Wargo sold 44,450 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $57.30, for a total transaction of $2,546,985.00. Following the completion of the transaction, the director owned 19,150 shares of the company's stock, valued at $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Liberty Broadband in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of "Sell".

Liberty Broadband Profile

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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