BlackRock Inc. Sells 382,220 Shares of Liberty Broadband Corp Series C (NASDAQ:LBRDK)

BlackRock Inc. lowered its stake in shares of Liberty Broadband Corp Series C (NASDAQ:LBRDK) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,647,141 shares of the company’s stock after selling 382,220 shares during the period. BlackRock Inc.’s holdings in Liberty Broadband Corp Series C were worth $796,986,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Private Ocean LLC acquired a new position in shares of Liberty Broadband Corp Series C during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of Liberty Broadband Corp Series C during the 2nd quarter worth approximately $27,000. Ossiam acquired a new position in shares of Liberty Broadband Corp Series C during the 2nd quarter worth approximately $31,000. TRUE Private Wealth Advisors acquired a new position in shares of Liberty Broadband Corp Series C during the 2nd quarter worth approximately $33,000. Finally, Commonwealth Bank of Australia increased its holdings in shares of Liberty Broadband Corp Series C by 81.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 363 shares of the company’s stock worth $35,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 54.25% of the company’s stock.

Shares of NASDAQ LBRDK opened at $116.76 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.04 and a quick ratio of 2.53. The stock’s fifty day moving average price is $110.49 and its two-hundred day moving average price is $104.29. Liberty Broadband Corp Series C has a one year low of $68.47 and a one year high of $120.08. The firm has a market cap of $21.42 billion, a price-to-earnings ratio of 307.26 and a beta of 1.27.

In other Liberty Broadband Corp Series C news, CEO Gregory B. Maffei sold 138,728 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $116.06, for a total value of $16,100,771.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 10.80% of the company’s stock.

LBRDK has been the topic of a number of recent analyst reports. TD Securities raised Liberty Broadband Corp Series C from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Friday, August 9th. ValuEngine lowered Liberty Broadband Corp Series C from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Liberty Broadband Corp Series C from a “strong sell” rating to a “hold” rating in a report on Thursday, October 10th. Citigroup initiated coverage on Liberty Broadband Corp Series C in a report on Friday, October 4th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on Liberty Broadband Corp Series C from $117.00 to $131.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $122.75.

About Liberty Broadband Corp Series C

Liberty Broadband Corporation, a cable operator, provides video, Internet, and voice services to residential, and small and medium business customers in the United States. The company operates through Skyhook and Charter segments. The Skyhook segment offers Precision Location Solution, a location determination service for mobile device makers, wireless carriers, and asset tracking platforms to understand the precise geographic location and movement of mobile devices, as well as for enhancing the location determination capabilities of a hybrid location system.

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Institutional Ownership by Quarter for Liberty Broadband Corp Series C (NASDAQ:LBRDK)

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