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

SummitTX Capital L.P. boosted its stake in shares of Liberty Broadband Corporation (NASDAQ:LBRDK) by 102.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 121,480 shares of the company’s stock after acquiring an additional 61,593 shares during the period. SummitTX Capital L.P. owned about 0.08% of Liberty Broadband worth $6,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LBRDK. Integrated Wealth Concepts LLC increased its stake in shares of Liberty Broadband by 4.4% during the first quarter. Integrated Wealth Concepts LLC now owns 4,092 shares of the company’s stock worth $348,000 after purchasing an additional 174 shares in the last quarter. Mariner LLC lifted its stake in Liberty Broadband by 3.4% in the 3rd quarter. Mariner LLC now owns 6,958 shares of the company’s stock valued at $442,000 after buying an additional 226 shares in the last quarter. Fiduciary Alliance LLC lifted its stake in Liberty Broadband by 3.9% in the 1st quarter. Fiduciary Alliance LLC now owns 6,211 shares of the company’s stock valued at $319,000 after buying an additional 236 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Liberty Broadband by 4.6% in the 2nd quarter. Captrust Financial Advisors now owns 5,376 shares of the company’s stock worth $529,000 after buying an additional 237 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Liberty Broadband by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 35,369 shares of the company’s stock worth $2,247,000 after buying an additional 239 shares during the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on LBRDK shares. Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a 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 MarketBeat, the company has a consensus rating of “Sell”.

Liberty Broadband Price Performance

Shares of LBRDK stock opened at $30.92 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $4.44 billion, a PE ratio of -1.61 and a beta of 0.65. The firm’s 50-day moving average is $31.83 and its two-hundred day moving average is $42.76. Liberty Broadband Corporation has a 12 month low of $26.25 and a 12 month high of $70.32.

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.