Suntrust Banks Inc. Increases Position in Liberty Broadband Corporation (LBRDA)

Suntrust Banks Inc. lifted its position in Liberty Broadband Corporation (NASDAQ:LBRDA) by 1.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,470 shares of the company’s stock after purchasing an additional 62 shares during the period. Suntrust Banks Inc.’s holdings in Liberty Broadband Corporation were worth $469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LBRDA. BlackRock Inc. boosted its holdings in shares of Liberty Broadband Corporation by 20,817.7% in the first quarter. BlackRock Inc. now owns 1,567,360 shares of the company’s stock valued at $133,368,000 after purchasing an additional 1,559,867 shares during the period. FMR LLC boosted its holdings in shares of Liberty Broadband Corporation by 32.5% in the first quarter. FMR LLC now owns 1,722,101 shares of the company’s stock valued at $146,534,000 after purchasing an additional 422,727 shares during the period. Artemis Investment Management LLP boosted its holdings in shares of Liberty Broadband Corporation by 40.6% in the second quarter. Artemis Investment Management LLP now owns 669,279 shares of the company’s stock valued at $58,050,000 after purchasing an additional 193,130 shares during the period. Bank of America Corp DE boosted its holdings in shares of Liberty Broadband Corporation by 174.7% in the first quarter. Bank of America Corp DE now owns 236,702 shares of the company’s stock valued at $20,141,000 after purchasing an additional 150,521 shares during the period. Finally, Scopus Asset Management L.P. purchased a new stake in shares of Liberty Broadband Corporation in the first quarter valued at approximately $9,785,000. Hedge funds and other institutional investors own 11.85% of the company’s stock.

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Shares of Liberty Broadband Corporation (NASDAQ:LBRDA) opened at 95.12 on Wednesday. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 559.53 and a beta of 1.43. The firm’s 50-day moving average price is $97.44 and its 200-day moving average price is $90.86. Liberty Broadband Corporation has a 12-month low of $61.69 and a 12-month high of $104.35.

LBRDA has been the subject of a number of research reports. BidaskClub upgraded Liberty Broadband Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Telsey Advisory Group reiterated an “outperform” rating and issued a $125.00 price target (up previously from $95.00) on shares of Liberty Broadband Corporation in a report on Thursday, September 7th. TheStreet lowered Liberty Broadband Corporation from a “b” rating to a “c+” rating in a report on Wednesday, August 16th. Finally, Pivotal Research reiterated a “buy” rating and issued a $108.00 price target (up previously from $107.00) on shares of Liberty Broadband Corporation in a report on Tuesday, August 15th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $111.67.

In other Liberty Broadband Corporation news, Director John C. Malone sold 5,700 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.62, for a total value of $505,134.00. Following the completion of the transaction, the director now owns 3,782,554 shares in the company, valued at $335,209,935.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Malone sold 34,500 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $95.18, for a total transaction of $3,283,710.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 524,925 shares of company stock valued at $51,690,122. Insiders own 6.09% of the company’s stock.

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.

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

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