ING Groep NV Reduces Holdings in Liberty Broadband Co. (NASDAQ:LBRDK)

ING Groep NV lessened its holdings in Liberty Broadband Co. (NASDAQ:LBRDK - Free Report) by 85.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,600 shares of the company's stock after selling 83,115 shares during the period. ING Groep NV's holdings in Liberty Broadband were worth $1,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wahed Invest LLC raised its holdings in Liberty Broadband by 9.4% during the 3rd quarter. Wahed Invest LLC now owns 1,835 shares of the company's stock valued at $168,000 after acquiring an additional 157 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Liberty Broadband by 2.8% in the third quarter. Daiwa Securities Group Inc. now owns 7,245 shares of the company's stock worth $662,000 after purchasing an additional 200 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Liberty Broadband by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 52,654 shares of the company's stock worth $4,808,000 after purchasing an additional 230 shares during the period. Arizona State Retirement System grew its position in Liberty Broadband by 0.8% in the fourth quarter. Arizona State Retirement System now owns 32,887 shares of the company's stock worth $2,650,000 after acquiring an additional 246 shares in the last quarter. Finally, Alaska Permanent Fund Corp grew its position in Liberty Broadband by 1.0% in the fourth quarter. Alaska Permanent Fund Corp now owns 31,914 shares of the company's stock worth $2,572,000 after acquiring an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 80.22% of the company's stock.

Insider Activity

In other news, Director J David Wargo sold 9,000 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $56.80, for a total transaction of $511,200.00. Following the sale, the director now directly owns 97,332 shares in the company, valued at approximately $5,528,457.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 45,000 shares of company stock worth $2,435,830 in the last three months. Company insiders own 10.80% of the company's stock.

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock traded down $0.65 on Wednesday, hitting $52.02. 889,244 shares of the company's stock were exchanged, compared to its average volume of 1,267,986. The company has a 50-day simple moving average of $52.88 and a 200-day simple moving average of $66.47. The stock has a market capitalization of $7.43 billion, a PE ratio of 8.94 and a beta of 0.97. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $95.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 1.81.

Analyst Upgrades and Downgrades

Separately, Citigroup cut their price target on shares of Liberty Broadband from $108.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, February 7th.

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.