Liberty Broadband Corporation $LBRDK Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP lessened its position in Liberty Broadband Corporation (NASDAQ:LBRDK) by 17.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 357,905 shares of the company’s stock after selling 75,528 shares during the period. Liberty Broadband makes up 0.8% of Readystate Asset Management LP’s portfolio, making the stock its 27th biggest position. Readystate Asset Management LP owned approximately 0.25% of Liberty Broadband worth $18,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Liberty Broadband by 8.4% in the 1st quarter. Royal Bank of Canada now owns 443,926 shares of the company’s stock worth $22,329,000 after buying an additional 34,577 shares in the last quarter. Empowered Funds LLC acquired a new stake in Liberty Broadband in the first quarter worth about $343,000. Quantinno Capital Management LP increased its stake in Liberty Broadband by 30.8% during the 1st quarter. Quantinno Capital Management LP now owns 387,044 shares of the company’s stock valued at $19,468,000 after buying an additional 91,176 shares during the period. Polar Asset Management Partners Inc. raised its holdings in Liberty Broadband by 50.0% during the first quarter. Polar Asset Management Partners Inc. now owns 600,000 shares of the company’s stock worth $30,180,000 after purchasing an additional 200,000 shares in the last quarter. Finally, SummitTX Capital L.P. raised its stake in shares of Liberty Broadband by 102.8% in the 1st quarter. SummitTX Capital L.P. now owns 121,480 shares of the company’s stock worth $6,110,000 after buying an additional 61,593 shares in the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Stock Up 6.3%

Shares of Liberty Broadband stock opened at $32.87 on Wednesday. Liberty Broadband Corporation has a 12-month low of $26.25 and a 12-month high of $68.17. The firm has a market capitalization of $4.72 billion, a PE ratio of -1.71 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $31.82 and its 200-day moving average is $42.65.

Analyst Ratings Changes

LBRDK has been the topic of a number of research analyst reports. Wall Street Zen raised Liberty Broadband from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Liberty Broadband presently has an average rating of “Sell”.

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.