Raffles Associates LP maintained its stake in Liberty Broadband Corporation (NASDAQ:LBRDK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,939 shares of the company’s stock at the close of the second quarter. Raffles Associates LP’s holdings in Liberty Broadband Corporation were worth $775,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of LBRDK. BlackRock Inc. grew its position in Liberty Broadband Corporation by 4,496.9% during the 1st quarter. BlackRock Inc. now owns 5,452,071 shares of the company’s stock worth $471,058,000 after acquiring an additional 5,333,467 shares during the last quarter. Naya Capital Management UK Ltd. bought a new position in Liberty Broadband Corporation in the 1st quarter valued at $86,978,000. Janus Henderson Group PLC boosted its position in Liberty Broadband Corporation by 3,636.3% in the 2nd quarter. Janus Henderson Group PLC now owns 491,738 shares of the company’s stock valued at $42,658,000 after buying an additional 478,577 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Liberty Broadband Corporation by 72.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 978,077 shares of the company’s stock valued at $84,849,000 after buying an additional 410,879 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in Liberty Broadband Corporation by 69.3% in the 1st quarter. Janus Capital Management LLC now owns 402,667 shares of the company’s stock valued at $34,790,000 after buying an additional 164,800 shares during the last quarter. 53.20% of the stock is owned by institutional investors and hedge funds.
In other Liberty Broadband Corporation news, Director John C. Malone sold 66,920 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $100.58, for a total value of $6,730,813.60. Following the completion of the sale, the director now owns 3,498,779 shares in the company, valued at approximately $351,907,191.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Malone sold 34,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $95.18, for a total transaction of $3,283,710.00. Following the completion of the sale, the director now owns 3,452,500 shares of the company’s stock, valued at approximately $328,608,950. The disclosure for this sale can be found here. Insiders sold a total of 205,670 shares of company stock worth $19,651,998 in the last 90 days. 10.80% of the stock is currently owned by company insiders.
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LBRDK has been the topic of a number of recent research reports. Zacks Investment Research upgraded Liberty Broadband Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $95.00 price objective (up previously from $91.00) on shares of Liberty Broadband Corporation in a research note on Monday, July 17th. Finally, TheStreet downgraded Liberty Broadband Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th.
Liberty Broadband Corporation 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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