Truist Financial Corp Trims Stake in Liberty Broadband Co. (NASDAQ:LBRDK)

Posted by Defense World Staff on Aug 9th, 2023

Truist Financial Corp cut its stake in Liberty Broadband Co. (NASDAQ:LBRDK – Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,709 shares of the company’s stock after selling 1,999 shares during the quarter. Truist Financial Corp owned approximately 0.15% of Liberty Broadband worth $17,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Belpointe Asset Management LLC acquired a new position in Liberty Broadband in the 4th quarter worth about $27,000. CI Investments Inc. boosted its holdings in Liberty Broadband by 106.5% in the 4th quarter. CI Investments Inc. now owns 349 shares of the company’s stock worth $27,000 after buying an additional 180 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Liberty Broadband during the 1st quarter worth approximately $27,000. Nisa Investment Advisors LLC raised its holdings in shares of Liberty Broadband by 34.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $48,000 after acquiring an additional 160 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Liberty Broadband by 1,240.7% in the fourth quarter. Zions Bancorporation N.A. now owns 724 shares of the company’s stock valued at $55,000 after acquiring an additional 670 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

Insider Activity

In other news, CAO Brian J. Wendling sold 6,419 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $77.59, for a total transaction of $498,050.21. Following the completion of the transaction, the chief accounting officer now directly owns 12,274 shares of the company’s stock, valued at approximately $952,339.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 10.80% of the company’s stock.

Liberty Broadband Trading Up 0.0 %

NASDAQ:LBRDK opened at $91.32 on Wednesday. Liberty Broadband Co. has a 12-month low of $68.67 and a 12-month high of $120.59. The firm has a market cap of $13.35 billion, a PE ratio of 16.63 and a beta of 1.14. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $81.12 and a 200 day moving average price of $82.26.

Analysts Set New Price Targets

LBRDK has been the subject of a number of recent research reports. Morgan Stanley raised their target price on Liberty Broadband from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, July 24th. StockNews.com started coverage on shares of Liberty Broadband in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Pivotal Research dropped their price target on shares of Liberty Broadband from $138.00 to $129.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $129.20.

Read Our Latest Stock Analysis on LBRDK

Liberty Broadband Company Profile

(Free Report)

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.