Readystate Asset Management LP Purchases 387,839 Shares of Liberty Broadband Corporation $LBRDK

Readystate Asset Management LP boosted its position in Liberty Broadband Corporation (NASDAQ:LBRDK) by 108.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 745,744 shares of the company’s stock after buying an additional 387,839 shares during the period. Liberty Broadband makes up 0.8% of Readystate Asset Management LP’s holdings, making the stock its 27th biggest holding. Readystate Asset Management LP owned about 0.52% of Liberty Broadband worth $24,803,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Western Wealth Management LLC bought a new position in shares of Liberty Broadband in the 1st quarter worth about $28,000. Essential Partners LLC boosted its position in shares of Liberty Broadband by 153.9% during the 1st quarter. Essential Partners LLC now owns 678 shares of the company’s stock valued at $34,000 after purchasing an additional 411 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Liberty Broadband during the 3rd quarter valued at about $42,000. Rothschild Investment LLC grew its stake in Liberty Broadband by 7,253.8% during the fourth quarter. Rothschild Investment LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 943 shares during the period. Finally, Danske Bank A S acquired a new stake in Liberty Broadband during the third quarter worth approximately $51,000. Institutional investors own 80.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings lowered Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Citigroup reduced their price objective on shares of Liberty Broadband from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Wall Street Zen lowered shares of Liberty Broadband from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Liberty Broadband has an average rating of “Hold” and an average price target of $42.00.

Liberty Broadband Price Performance

Shares of NASDAQ LBRDK opened at $36.02 on Monday. The firm has a market capitalization of $5.17 billion, a P/E ratio of -5.15 and a beta of 0.64. The firm’s 50-day moving average price is $33.77 and its 200-day moving average price is $40.07. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.10. Liberty Broadband Corporation has a 1-year low of $26.25 and a 1-year high of $65.72.

Liberty Broadband Company Profile

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.