300,000 Shares in Liberty Broadband Corporation $LBRDK Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 300,000 shares of the company’s stock, valued at approximately $19,062,000.

A number of other large investors have also added to or reduced their stakes in LBRDK. DLD Asset Management LP bought a new position in shares of Liberty Broadband during the 3rd quarter valued at approximately $4,636,000. JPMorgan Chase & Co. raised its stake in Liberty Broadband by 493.1% during the third quarter. JPMorgan Chase & Co. now owns 2,270,557 shares of the company’s stock valued at $144,271,000 after purchasing an additional 1,887,742 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Liberty Broadband by 0.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,025,474 shares of the company’s stock valued at $100,886,000 after purchasing an additional 5,763 shares in the last quarter. Alpine Associates Management Inc. bought a new position in Liberty Broadband during the third quarter valued at $32,323,000. Finally, Athos Capital Ltd bought a new position in Liberty Broadband during the third quarter valued at $10,746,000. Institutional investors own 80.22% of the company’s stock.

Insiders Place Their Bets

In related news, Director J David Wargo sold 2,232 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $57.61, for a total value of $128,585.52. Following the completion of the sale, the director directly owned 471 shares in the company, valued at $27,134.31. This trade represents a 82.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Liberty Broadband Price Performance

NASDAQ:LBRDK opened at $48.51 on Thursday. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -2.59 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.10 and a quick ratio of 0.10. The business has a 50 day simple moving average of $50.55 and a 200-day simple moving average of $52.69. Liberty Broadband Corporation has a 1 year low of $42.10 and a 1 year high of $104.00.

Liberty Broadband 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.