ABC Arbitrage SA Takes $563,000 Position in Liberty Broadband Co. (NASDAQ:LBRDK)

ABC Arbitrage SA bought a new stake in shares of Liberty Broadband Co. (NASDAQ:LBRDK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,537 shares of the company’s stock, valued at approximately $563,000.

A number of other hedge funds have also recently modified their holdings of LBRDK. GAMMA Investing LLC grew its stake in Liberty Broadband by 200.7% in the third quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock worth $33,000 after purchasing an additional 283 shares in the last quarter. BlueDrive Global Investors LLP purchased a new stake in Liberty Broadband during the third quarter worth $6,251,000. Whittier Trust Co. lifted its holdings in Liberty Broadband by 36.5% during the third quarter. Whittier Trust Co. now owns 8,600 shares of the company’s stock worth $665,000 after buying an additional 2,300 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Liberty Broadband during the third quarter worth $861,000. Finally, Sprinkle Financial Consultants LLC purchased a new stake in Liberty Broadband during the third quarter worth $236,000. Institutional investors own 80.22% of the company’s stock.

Liberty Broadband Stock Performance

Shares of LBRDK opened at $81.58 on Friday. Liberty Broadband Co. has a 12 month low of $46.46 and a 12 month high of $101.50. The stock has a fifty day moving average price of $77.71 and a 200-day moving average price of $75.93. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.65 billion, a PE ratio of 15.02 and a beta of 1.04.

Insider Activity

In related news, CEO Gregory B. Maffei sold 71,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $82.00, for a total value of $5,863,000.00. Following the transaction, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at $231,815,066. This represents a 2.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 196,542 shares of company stock worth $15,834,108. Insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Liberty Broadband in a report on Sunday, February 9th. They set a “sell” rating for the company.

Liberty Broadband Profile

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.