ABC Arbitrage SA Acquires Stake in Liberty Broadband Co.

ABC Arbitrage SA has made a significant move by acquiring a new stake in Liberty Broadband Co. (NASDAQ:LBRDK). This acquisition occurred during the fourth quarter of the year, as indicated by ABC Arbitrage's latest filing with the Securities and Exchange Commission (SEC). The fund has bought a total of 7,537 shares in Liberty Broadband, which are valued at approximately $563,000.

Institutional Investor Activity

In addition to ABC Arbitrage SA, several other institutional investors and hedge funds have also been active in the market for Liberty Broadband shares. For instance, Entropy Technologies LP has purchased a new position in Liberty Broadband, valued at around $349,000, while Empowered Funds LLC invested about $424,000 in the same quarter. Choreo LLC entered the market with a new position valued approximately at $210,000.

LB Partners LLC has notably increased its position in Liberty Broadband by 56.2%, now owning 78,075 shares of the company, worth $5,837,000 after acquiring an additional 28,075 shares. Similarly, Western Pacific Wealth Management LP has raised its stake by 50.5%, now possessing 4,115 shares valued at $308,000 after an addition of 1,380 shares last quarter. As of now, hedge funds and institutional investors own about 80.22% of Liberty Broadband's stock.

Analyst Opinions

On a separate note, StockNews.com has begun covering Liberty Broadband and recently issued a "sell" rating on the stock, providing insights for potential investors.

Insider Transactions

Further developments within Liberty Broadband include notable insider trading activities. The company's CEO, Gregory B. Maffei, sold 125,000 shares of the business on December 18. This transaction was made at an average price of $79.74, totaling approximately $9,967,500. Following this sale, Maffei still holds 1,435,256 shares, valued upwards of $114 million. This transaction marked an 8.01% decrease in his ownership of the stock. Over the last three months, insiders have sold a combined total of 196,542 shares of Liberty Broadband, amounting to approximately $15.83 million, while corporate insiders control about 10.80% of the company's stock.

Current Stock Performance

As of Friday, NASDAQ:LBRDK opened at $81.58. The company exhibits a current ratio and a quick ratio of 2.07, along with a debt-to-equity ratio of 0.40. Liberty Broadband has a market capitalization of $11.65 billion, with a price-to-earnings ratio of 15.02 and a beta of 1.04. The stock has experienced a 12-month low of $46.46 and a high of $101.50.

About Liberty Broadband

Liberty Broadband Corporation engages in various communications businesses, primarily through its GCI Holdings segment, which provides data, wireless, video, voice, and managed services to residential customers as well as businesses and institutions across Alaska under the GCI brand.

Liberty, Broadband, Investment, Stock, Market