PNC Financial Services Group Inc. Has $6.28 Million Stock Position in Liberty Broadband Co. (NASDAQ:LBRDK)

PNC Financial Services Group Inc. cut its position in shares of Liberty Broadband Co. (NASDAQ:LBRDK) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,863 shares of the company’s stock after selling 3,393 shares during the period. PNC Financial Services Group Inc.’s holdings in Liberty Broadband were worth $6,275,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Barclays PLC raised its position in shares of Liberty Broadband by 315.0% in the third quarter. Barclays PLC now owns 2,675,919 shares of the company’s stock valued at $244,364,000 after purchasing an additional 2,031,168 shares during the period. UBS Group AG grew its stake in Liberty Broadband by 21.7% in the 3rd quarter. UBS Group AG now owns 8,626,349 shares of the company’s stock valued at $787,758,000 after buying an additional 1,536,718 shares during the last quarter. Norges Bank acquired a new position in Liberty Broadband in the 4th quarter valued at $104,363,000. Assenagon Asset Management S.A. raised its holdings in Liberty Broadband by 179.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,334,499 shares of the company’s stock worth $107,547,000 after acquiring an additional 857,187 shares during the period. Finally, Aristeia Capital LLC lifted its position in Liberty Broadband by 6.0% during the 3rd quarter. Aristeia Capital LLC now owns 6,435,596 shares of the company’s stock worth $587,699,000 after acquiring an additional 363,554 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Trading Down 2.7 %

Shares of Liberty Broadband stock opened at $50.59 on Friday. Liberty Broadband Co. has a 1 year low of $46.46 and a 1 year high of $95.68. The company’s fifty day simple moving average is $52.61 and its 200-day simple moving average is $66.26. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 8.59 and a beta of 0.97. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price target on Liberty Broadband from $108.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th.

Insider Transactions at Liberty Broadband

In related news, Director J David Wargo sold 9,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $56.80, for a total value of $511,200.00. Following the completion of the transaction, the director now directly owns 97,332 shares in the company, valued at $5,528,457.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 45,000 shares of company stock worth $2,435,830. 10.80% of the stock is currently owned by company insiders.

Liberty Broadband Profile

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.