Citigroup Inc. Decreases Stake in Liberty Broadband Corporation $LBRDA

Citigroup Inc. trimmed its position in shares of Liberty Broadband Corporation (NASDAQ:LBRDA) by 12.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 327,485 shares of the company’s stock after selling 44,958 shares during the period. Citigroup Inc. owned about 0.23% of Liberty Broadband worth $20,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Liberty Broadband by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,588,530 shares of the company’s stock worth $100,602,000 after buying an additional 11,709 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Liberty Broadband by 31.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 467,550 shares of the company’s stock worth $45,736,000 after purchasing an additional 111,853 shares during the last quarter. Whitebox Advisors LLC lifted its stake in Liberty Broadband by 1.4% during the second quarter. Whitebox Advisors LLC now owns 348,076 shares of the company’s stock worth $34,049,000 after purchasing an additional 4,825 shares during the last quarter. Norges Bank acquired a new position in Liberty Broadband in the second quarter valued at approximately $21,089,000. Finally, LMR Partners LLP purchased a new position in Liberty Broadband in the second quarter valued at approximately $16,904,000. Institutional investors and hedge funds own 10.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Liberty Broadband presently has a consensus rating of “Hold” and a consensus price target of $115.00.

Insider Activity at Liberty Broadband

In related news, Director J David Wargo sold 2,232 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $57.61, for a total transaction of $128,585.52. Following the completion of the sale, the director directly owned 471 shares of the company’s stock, valued at $27,134.31. This trade represents a 82.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 49,571 shares of company stock worth $2,811,642 in the last three months. 11.59% of the stock is owned by corporate insiders.

Liberty Broadband Trading Up 1.0%

Shares of Liberty Broadband stock opened at $52.95 on Friday. The company has a market capitalization of $7.60 billion, a P/E ratio of 9.59 and a beta of 0.98. Liberty Broadband Corporation has a 1 year low of $42.05 and a 1 year high of $102.38. The company’s fifty day moving average is $49.34 and its two-hundred day moving average is $53.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.10 and a current ratio of 0.10.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.