Asset Management One Co. Ltd. cut its stake in Liberty Broadband Corporation (NASDAQ:LBRDK) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,367 shares of the company’s stock after selling 14,713 shares during the period. Asset Management One Co. Ltd. owned approximately 0.09% of Liberty Broadband Corporation worth $13,512,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of LBRDK. Norges Bank acquired a new position in Liberty Broadband Corporation during the fourth quarter valued at approximately $20,829,000. Franklin Resources Inc. boosted its position in Liberty Broadband Corporation by 59.2% in the fourth quarter. Franklin Resources Inc. now owns 679,174 shares of the company’s stock valued at $50,307,000 after buying an additional 252,521 shares during the period. Janus Capital Management LLC boosted its position in Liberty Broadband Corporation by 6,507.4% in the fourth quarter. Janus Capital Management LLC now owns 237,867 shares of the company’s stock valued at $17,619,000 after buying an additional 234,267 shares during the period. Wells Fargo & Company MN boosted its position in Liberty Broadband Corporation by 56.4% in the third quarter. Wells Fargo & Company MN now owns 613,611 shares of the company’s stock valued at $43,861,000 after buying an additional 221,249 shares during the period. Finally, Steel Canyon Capital LLC acquired a new position in Liberty Broadband Corporation during the fourth quarter valued at approximately $15,035,000. 63.70% of the stock is owned by institutional investors.
Shares of Liberty Broadband Corporation (NASDAQ LBRDK) traded up 0.53% during mid-day trading on Friday, reaching $88.02. The company’s stock had a trading volume of 2,936,226 shares. The stock has a market capitalization of $16.00 billion, a P/E ratio of 16.45 and a beta of 1.39. The company has a 50 day moving average price of $87.20 and a 200 day moving average price of $83.34. Liberty Broadband Corporation has a 12 month low of $55.05 and a 12 month high of $92.40.
Several research firms recently commented on LBRDK. Zacks Investment Research cut Liberty Broadband Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. TheStreet upgraded Liberty Broadband Corporation from a “c+” rating to a “b-” rating in a research note on Tuesday, March 14th.
In other Liberty Broadband Corporation news, Director John C. Malone sold 23,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $87.75, for a total transaction of $2,018,250.00. Following the transaction, the director now owns 3,805,554 shares in the company, valued at approximately $333,937,363.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 10.80% of the company’s stock.
About Liberty Broadband Corporation
Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook). The Company’s segments include Skyhook, Charter, and Corporate and other. Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.
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