SummitTX Capital L.P. Grows Position in Liberty Broadband Corporation $LBRDK

SummitTX Capital L.P. increased its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 102.8% in the first quarter, Holdings Channel reports. The firm owned 121,480 shares of the company’s stock after buying an additional 61,593 shares during the period. SummitTX Capital L.P.’s holdings in Liberty Broadband were worth $6,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LBRDK. Highlander Partners L.P. purchased a new stake in shares of Liberty Broadband in the 4th quarter valued at approximately $26,000. eCIO Inc. purchased a new position in shares of Liberty Broadband during the 4th quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new position in shares of Liberty Broadband during the 3rd quarter worth approximately $42,000. Rothschild Investment LLC increased its holdings in Liberty Broadband by 7,253.8% in the 4th quarter. Rothschild Investment LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 943 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Liberty Broadband in the 3rd quarter valued at approximately $51,000. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LBRDK. Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. Wall Street Zen upgraded Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Liberty Broadband Stock Up 7.0%

Shares of LBRDK opened at $30.92 on Tuesday. The company’s 50-day simple moving average is $31.83 and its 200-day simple moving average is $42.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. Liberty Broadband Corporation has a 1 year low of $26.25 and a 1 year high of $70.32. The stock has a market capitalization of $4.44 billion, a PE ratio of -1.61 and a beta of 0.65.

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.