Walleye Capital LLC Trims Stake in Liberty Broadband Corporation $LBRDK

Key Points

• Walleye Capital LLC has reduced its stake in Liberty Broadband Corporation by 7.6%, owning 168,885 shares worth approximately $14.36 million after selling 13,977 shares in the first quarter.
• New investments in Liberty Broadband have been made by several institutional investors, including SouthState Corp and Vestor Capital LLC, with about 80.22% of the stock currently owned by hedge funds and other institutional investors.
• The stock price of Liberty Broadband opened at $63.62, significantly lower than its 1-year high of $104, and recently received a "hold" rating upgrade from Wall Street Zen.

Walleye Capital LLC trimmed its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,885 shares of the company's stock after selling 13,977 shares during the quarter. Walleye Capital LLC owned about 0.12% of Liberty Broadband worth $14,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LBRDK. SouthState Corp purchased a new position in shares of Liberty Broadband in the 1st quarter worth about $25,000. Vestor Capital LLC bought a new position in shares of Liberty Broadband in the 1st quarter worth approximately $44,000. Continuum Advisory LLC bought a new position in shares of Liberty Broadband in the 1st quarter worth approximately $58,000. Quarry LP grew its stake in shares of Liberty Broadband by 131.6% in the 4th quarter. Quarry LP now owns 836 shares of the company's stock worth $62,000 after buying an additional 475 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Liberty Broadband by 28.6% in the 1st quarter. Brooklyn Investment Group now owns 1,361 shares of the company's stock worth $116,000 after buying an additional 303 shares during the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Liberty Broadband Price Performance

NASDAQ LBRDK opened at $63.62 on Monday. The business's fifty day moving average price is $80.18 and its 200-day moving average price is $84.04. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 8.39 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 Corporation has a 1-year low of $57.91 and a 1-year high of $104.00.

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.

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