508,700 Shares in Liberty Broadband Corporation $LBRDK Purchased by Alpine Associates Management Inc.

Alpine Associates Management Inc. acquired a new position in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 508,700 shares of the company’s stock, valued at approximately $32,323,000. Liberty Broadband comprises approximately 2.0% of Alpine Associates Management Inc.’s holdings, making the stock its 14th largest holding. Alpine Associates Management Inc. owned about 0.35% of Liberty Broadband as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LBRDK. Norges Bank purchased a new position in Liberty Broadband in the second quarter valued at approximately $137,249,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Liberty Broadband by 71.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,557,714 shares of the company’s stock valued at $153,248,000 after purchasing an additional 648,125 shares during the period. Baupost Group LLC MA lifted its holdings in Liberty Broadband by 337.0% during the 2nd quarter. Baupost Group LLC MA now owns 745,610 shares of the company’s stock worth $73,353,000 after purchasing an additional 575,000 shares in the last quarter. Man Group plc increased its holdings in Liberty Broadband by 92.9% during the 2nd quarter. Man Group plc now owns 957,253 shares of the company’s stock worth $94,175,000 after acquiring an additional 460,920 shares during the period. Finally, LMR Partners LLP grew its position in Liberty Broadband by 501.8% during the second quarter. LMR Partners LLP now owns 481,172 shares of the company’s stock worth $47,338,000 after buying an additional 401,211 shares in the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Insider Activity

In related news, Director J David Wargo sold 2,232 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $57.61, for a total transaction of $128,585.52. Following the transaction, the director owned 471 shares in the company, valued at $27,134.31. The trade was a 82.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 49,571 shares of company stock valued at $2,811,642 over the last quarter. 10.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LBRDK has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research report on Monday, December 29th. Wall Street Zen cut Liberty Broadband from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Liberty Broadband Stock Down 2.6%

Shares of NASDAQ LBRDK opened at $56.14 on Thursday. The firm’s fifty day moving average is $48.13 and its 200 day moving average is $54.11. Liberty Broadband Corporation has a 52 week low of $42.10 and a 52 week high of $104.00. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 10.17 and a beta of 0.99.

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.