Bank of Montreal may reduce its stake in Liberty Broadband Company (NASDAQ:LBRDK – Gate Rating) to 66.0% in the second quarter, according to the company in a recent filing to the Securities and Exchange Commission (SEC). The firm held 88,604 shares of the company’s stock after selling 172,016 shares during the period. Bank of Montreal Can’s holdings in Liberty Broadband were worth $10,287,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company recently. Prospera Financial Services Inc bought a new stake in Liberty Broadband in the first quarter worth $26,000. Rosenberg Matthew Hamilton bought a new stake in Liberty Broadband in the second quarter worth $40,000. CVA Family Office LLC boosted its stake in Liberty Broadband to 4,437.5% in the second quarter. CVA Family Office LLC now owns 363 shares of the company valued at $42,000 after buying an additional 355 shares during this period. Crewe Advisors LLC increased its stake in Liberty Broadband shares to 48.7% during the second quarter. Crewe Advisors LLC now holds 412 shares of the company valued at $48,000 after acquiring an additional 135 shares during the period. Finally, Riverview Trust Company raised its stake in Liberty Broadband shares by 222.5% during the second quarter. Riverview Trust Company now owns 487 shares of the company’s stock valued at $56,000 after acquiring an additional 336 shares during the period. 75.65% of the stock is held by institutional investors.
Analyst Rating Changes
Several equity analysts have recently commented on the stock. Citigroup increased its price objective on shares of Liberty Broadband to $99.00 in a report on Friday, November 4. StockNews.com downgraded shares of Liberty Broadband from a “Hold” rating to a “Sell” rating in a report on Friday, November 18. Finally, Morgan Stanley raised its price objective on shares of Liberty Broadband from $89.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, November 7. One research analyst has rated the stock with Sell rating, one has issued Hold rating and three have Buy rating on the stock. According to MarketBeat, Liberty Broadband currently has an average rating of “Hold” and a consensus price target of $151.80.
Liberty Broadband Trading up 0.7%
Shares of Liberty Broadband stock opened on Thursday at $90.02. The stock has a market capitalization of $13.35 billion, a P/E ratio of 10.23, and a beta of 1.08. The company has a quick ratio of 2.02, current ratio of 2.02 and debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $81.66 and 200-day simple moving average is $102.75. Liberty Broadband Company’s 12-month low is $71.70 and the 12-month high is $165.14.
About Liberty Broadband
Liberty Broadband Corporation engages in the communications businesses. It operates through the GCI Holdings and Charter segments. The GCI Holdings segment provides a range of wireless, data, video, voice and managed services under the GCI brand primarily in Alaska to residential customers, businesses, government entities and educational and medical institutions.
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