Walleye Capital LLC Sells 13,977 Shares of 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 decreased its position in shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing 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 approximately 0.12% of Liberty Broadband worth $14,364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Deutsche Bank AG lifted its holdings in Liberty Broadband by 125.6% during the 4th quarter. Deutsche Bank AG now owns 3,060,143 shares of the company's stock worth $228,776,000 after buying an additional 1,703,637 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Liberty Broadband by 13.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,310,698 shares of the company's stock worth $196,522,000 after buying an additional 275,354 shares during the period. Madison Asset Management LLC lifted its holdings in Liberty Broadband by 8.5% during the 1st quarter. Madison Asset Management LLC now owns 1,781,745 shares of the company's stock worth $151,537,000 after buying an additional 140,307 shares during the period. Makaira Partners LLC lifted its holdings in Liberty Broadband by 219.6% during the 4th quarter. Makaira Partners LLC now owns 1,244,270 shares of the company's stock worth $93,022,000 after buying an additional 854,954 shares during the period. Finally, Pentwater Capital Management LP lifted its holdings in Liberty Broadband by 454.0% during the 4th quarter. Pentwater Capital Management LP now owns 1,108,000 shares of the company's stock worth $82,834,000 after buying an additional 908,000 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Liberty Broadband Trading Up 0.6%

NASDAQ LBRDK traded up $0.37 during trading hours on Friday, hitting $60.86. 921,185 shares of the company's stock were exchanged, compared to its average volume of 1,599,708. The stock has a 50-day simple moving average of $77.30 and a 200 day simple moving average of $83.41. Liberty Broadband Corporation has a 1-year low of $57.91 and a 1-year high of $104.00. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 8.03 and a beta of 0.96. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.26.

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.