Norges Bank Invests $180.88 Million in Liberty Broadband Corporation $LBRDK

Norges Bank purchased a new position in Liberty Broadband Corporation (NASDAQ:LBRDK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,721,829 shares of the company’s stock, valued at approximately $180,881,000. Norges Bank owned about 2.59% of Liberty Broadband at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Integrated Wealth Concepts LLC grew its holdings in shares of Liberty Broadband by 4.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,092 shares of the company’s stock valued at $348,000 after purchasing an additional 174 shares during the last quarter. Mariner LLC grew its holdings in shares of Liberty Broadband by 3.4% during the 3rd quarter. Mariner LLC now owns 6,958 shares of the company’s stock valued at $442,000 after purchasing an additional 226 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Liberty Broadband by 4.6% during the 2nd quarter. Captrust Financial Advisors now owns 5,376 shares of the company’s stock valued at $529,000 after purchasing an additional 237 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Liberty Broadband by 0.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 35,369 shares of the company’s stock valued at $2,247,000 after purchasing an additional 239 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Liberty Broadband by 0.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 52,296 shares of the company’s stock valued at $5,145,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 80.22% of the company’s stock.

Analyst Ratings Changes

LBRDK has been the topic of several recent research reports. Wall Street Zen raised shares of 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 report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock opened at $30.16 on Thursday. The firm has a market cap of $4.33 billion, a PE ratio of -1.57 and a beta of 0.66. Liberty Broadband Corporation has a 12-month low of $30.11 and a 12-month high of $101.46. 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 company’s fifty day simple moving average is $43.16 and its two-hundred day simple moving average is $47.10.

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.