ING Groep NV Acquires 89,000 Shares of Liberty Broadband Corporation $LBRDK

ING Groep NV lifted its holdings in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 20.7% during the 3rd quarter, Holdings Channel reports. The firm owned 519,800 shares of the company’s stock after purchasing an additional 89,000 shares during the quarter. ING Groep NV’s holdings in Liberty Broadband were worth $33,028,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its holdings in Liberty Broadband by 195.1% in the second quarter. Parkside Financial Bank & Trust now owns 360 shares of the company’s stock worth $35,000 after purchasing an additional 238 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Liberty Broadband by 1,054.1% during the 2nd quarter. Assetmark Inc. now owns 427 shares of the company’s stock worth $42,000 after buying an additional 390 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Liberty Broadband during the 3rd quarter worth approximately $47,000. EverSource Wealth Advisors LLC increased its stake in shares of Liberty Broadband by 59.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 733 shares of the company’s stock valued at $72,000 after acquiring an additional 273 shares in the last quarter. Finally, AlphaCore Capital LLC bought a new stake in shares of Liberty Broadband in the 2nd quarter valued at $80,000. Institutional investors and hedge funds own 80.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on LBRDK shares. Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research note on Monday, December 29th. Wall Street Zen cut shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Liberty Broadband Stock Performance

Shares of LBRDK stock opened at $57.65 on Wednesday. The firm has a market capitalization of $8.27 billion, a PE ratio of 10.44 and a beta of 0.99. The firm has a fifty day simple moving average of $47.94 and a two-hundred day simple moving average of $54.09. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.14. Liberty Broadband Corporation has a 12 month low of $42.10 and a 12 month high of $104.00.

Insider Activity

In other news, Director J David Wargo sold 2,889 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $47.10, for a total transaction of $136,071.90. Following the completion of the sale, the director directly owned 31,542 shares of the company’s stock, valued at $1,485,628.20. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.80% of the stock is owned by corporate insiders.

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.