California Public Employees Retirement System increased its holdings in Liberty Broadband Corp (NASDAQ:LBRDK) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 264,798 shares of the company’s stock after purchasing an additional 13,398 shares during the quarter. California Public Employees Retirement System owned 0.15% of Liberty Broadband worth $25,235,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Liberty Broadband by 5.3% during the second quarter. Russell Investments Group Ltd. now owns 52,568 shares of the company’s stock worth $4,561,000 after buying an additional 2,635 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Liberty Broadband by 78.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 43,026 shares of the company’s stock valued at $3,733,000 after purchasing an additional 18,940 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Liberty Broadband by 5.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 199,979 shares of the company’s stock valued at $17,349,000 after purchasing an additional 10,703 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Liberty Broadband by 8.7% in the 2nd quarter. First Trust Advisors LP now owns 83,057 shares of the company’s stock valued at $7,205,000 after purchasing an additional 6,654 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Liberty Broadband by 36.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,850 shares of the company’s stock valued at $890,000 after purchasing an additional 2,620 shares in the last quarter. 54.02% of the stock is owned by institutional investors.
Liberty Broadband Corp (NASDAQ LBRDK) traded up $1.58 during trading on Thursday, hitting $90.30. 787,497 shares of the stock traded hands, compared to its average volume of 879,475. The company has a quick ratio of 11.64, a current ratio of 11.64 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $16,280.00, a PE ratio of 903.00 and a beta of 1.29. Liberty Broadband Corp has a twelve month low of $75.28 and a twelve month high of $104.66.
Separately, Zacks Investment Research lowered shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research note on Friday, October 20th.
In other news, Director John C. Malone sold 8,550 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $94.87, for a total transaction of $811,138.50. Following the transaction, the director now owns 3,418,279 shares in the company, valued at approximately $324,292,128.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Welsh III purchased 2,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were acquired at an average price of $85.50 per share, for a total transaction of $171,000.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $427,500. The disclosure for this purchase can be found here. Company insiders own 10.80% of the company’s stock.
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Liberty Broadband Company Profile
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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