Envestnet Asset Management Inc. Has $2.85 Million Holdings in Liberty Broadband Corporation $LBRDK

Envestnet Asset Management Inc. decreased its position in Liberty Broadband Corporation (NASDAQ:LBRDK) by 71.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,815 shares of the company’s stock after selling 113,777 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Liberty Broadband were worth $2,848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its position in Liberty Broadband by 195.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 360 shares of the company’s stock valued at $35,000 after buying an additional 238 shares during the last quarter. Assetmark Inc. grew its stake in shares of Liberty Broadband by 1,054.1% during the 2nd quarter. Assetmark Inc. now owns 427 shares of the company’s stock worth $42,000 after acquiring an additional 390 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Liberty Broadband in the third quarter valued at approximately $47,000. Quent Capital LLC bought a new stake in shares of Liberty Broadband in the third quarter worth $53,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Liberty Broadband by 59.3% during the second quarter. EverSource Wealth Advisors LLC now owns 733 shares of the company’s stock worth $72,000 after purchasing an additional 273 shares during the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Trading Down 2.7%

Shares of NASDAQ:LBRDK opened at $52.54 on Thursday. Liberty Broadband Corporation has a 52-week low of $42.10 and a 52-week high of $104.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $7.54 billion, a P/E ratio of 9.52 and a beta of 0.99. The company has a 50-day simple moving average of $49.39 and a 200 day simple moving average of $53.63.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LBRDK shares. Wall Street Zen lowered shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Insider Buying and Selling at Liberty Broadband

In related news, Director J David Wargo sold 44,450 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $57.30, for a total value of $2,546,985.00. Following the sale, the director owned 19,150 shares in the company, valued at approximately $1,097,295. This represents a 69.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 49,571 shares of company stock worth $2,811,642. 10.80% of the stock is currently owned by insiders.

About Liberty Broadband

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.