First Manhattan Co. Has $26.40 Million Position in Liberty Broadband Corp (LBRDK)

First Manhattan Co. cut its stake in Liberty Broadband Corp (NASDAQ:LBRDK) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 310,018 shares of the company’s stock after selling 2,028 shares during the period. First Manhattan Co. owned approximately 0.17% of Liberty Broadband worth $26,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LBRDK. Prudential Financial Inc. purchased a new position in Liberty Broadband in the second quarter valued at about $223,000. JPMorgan Chase & Co. grew its position in shares of Liberty Broadband by 144.3% in the second quarter. JPMorgan Chase & Co. now owns 148,017 shares of the company’s stock valued at $12,840,000 after purchasing an additional 87,438 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Liberty Broadband by 2.1% in the second quarter. Teachers Advisors LLC now owns 123,484 shares of the company’s stock valued at $10,712,000 after purchasing an additional 2,578 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Liberty Broadband by 4.1% in the second quarter. Ameriprise Financial Inc. now owns 50,779 shares of the company’s stock valued at $4,379,000 after purchasing an additional 1,992 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Liberty Broadband by 80.3% in the second quarter. Amalgamated Bank now owns 10,109 shares of the company’s stock valued at $877,000 after purchasing an additional 4,503 shares during the last quarter. 54.12% of the stock is owned by institutional investors.

In other news, Director John E. Welsh III bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were purchased at an average price of $85.50 per share, for a total transaction of $171,000.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $427,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.80% of the stock is owned by corporate insiders.

Separately, Zacks Investment Research upgraded shares of Liberty Broadband from a “hold” rating to a “strong-buy” rating and set a $107.00 price target on the stock in a research report on Saturday, January 20th.

Liberty Broadband Corp (LBRDK) traded up $1.08 during mid-day trading on Wednesday, hitting $90.15. 427,224 shares of the stock traded hands, compared to its average volume of 734,533. The firm has a market capitalization of $16,249.67, a price-to-earnings ratio of 890.79 and a beta of 1.36. Liberty Broadband Corp has a twelve month low of $80.41 and a twelve month high of $104.66. The company has a quick ratio of 11.64, a current ratio of 11.64 and a debt-to-equity ratio of 0.06.

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About Liberty Broadband

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.

Institutional Ownership by Quarter for Liberty Broadband (NASDAQ:LBRDK)

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