Alpine Global Management LLC Takes Position in Liberty Broadband Corporation (NASDAQ:LBRDK)

Alpine Global Management LLC acquired a new position in Liberty Broadband Corporation (NASDAQ:LBRDK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 35,762 shares of the company’s stock, valued at approximately $3,102,000. Liberty Broadband Corporation makes up about 1.0% of Alpine Global Management LLC’s investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of LBRDK. Advisor Group Inc. lifted its position in Liberty Broadband Corporation by 14.2% during the 2nd quarter. Advisor Group Inc. now owns 1,674 shares of the company’s stock worth $146,000 after acquiring an additional 208 shares during the period. Macquarie Group Ltd. raised its stake in shares of Liberty Broadband Corporation by 260.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,800 shares of the company’s stock valued at $156,000 after buying an additional 1,300 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Liberty Broadband Corporation during the 1st quarter valued at about $186,000. Capstone Asset Management Co. raised its stake in shares of Liberty Broadband Corporation by 3.4% during the 2nd quarter. Capstone Asset Management Co. now owns 2,456 shares of the company’s stock valued at $213,000 after buying an additional 80 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Liberty Broadband Corporation during the 2nd quarter valued at about $223,000. 53.19% of the stock is owned by institutional investors.

In related news, Director John C. Malone sold 8,550 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $98.11, for a total transaction of $838,840.50. Following the completion of the sale, the director now directly owns 3,452,779 shares of the company’s stock, valued at approximately $338,752,147.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John C. Malone sold 66,920 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $100.58, for a total transaction of $6,730,813.60. Following the completion of the sale, the director now directly owns 3,498,779 shares of the company’s stock, valued at $351,907,191.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,970 shares of company stock worth $19,146,864. Company insiders own 10.80% of the company’s stock.

LBRDK has been the subject 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 note on Wednesday, July 5th. Morgan Stanley restated an “equal weight” rating and issued a $95.00 price target (up previously from $91.00) on shares of Liberty Broadband Corporation in a research note on Monday, July 17th. Finally, TheStreet lowered Liberty Broadband Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th.

Liberty Broadband Corporation (NASDAQ:LBRDK) traded down 0.27% on Wednesday, reaching $93.74. The company had a trading volume of 47,608 shares. The stock has a market capitalization of $17.04 billion, a PE ratio of 551.41 and a beta of 1.40. The stock has a 50 day moving average price of $97.89 and a 200 day moving average price of $92.09. Liberty Broadband Corporation has a 52-week low of $63.64 and a 52-week high of $104.66.

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About Liberty Broadband Corporation

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.

Institutional Ownership by Quarter for Liberty Broadband Corporation (NASDAQ:LBRDK)

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