Liberty Broadband (NASDAQ:LBRDK) Trading Down 5.9% – What’s Next?

Liberty Broadband Co. (NASDAQ:LBRDK)’s stock price dropped 5.9% during trading on Monday . The stock traded as low as $81.13 and last traded at $81.40. Approximately 478,893 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,193,465 shares. The stock had previously closed at $86.50.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LBRDK. Rosenblatt Securities lifted their price objective on shares of Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. StockNews.com began coverage on shares of Liberty Broadband in a research note on Saturday. They set a “sell” rating on the stock.

Liberty Broadband Stock Performance

The firm has a fifty day moving average price of $84.80 and a 200 day moving average price of $67.84. The firm has a market capitalization of $11.18 billion, a PE ratio of 15.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $2.68 by ($1.69). The company had revenue of $262.00 million for the quarter, compared to analyst estimates of $237.41 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. During the same quarter in the prior year, the business posted $1.10 earnings per share. Research analysts anticipate that Liberty Broadband Co. will post 6.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total transaction of $338,624.88. Following the completion of the transaction, the insider now directly owns 3,670 shares in the company, valued at $280,975.20. The trade was a 54.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian J. Wendling sold 2,208 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the sale, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. The trade was a 16.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,673 shares of company stock worth $509,688. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in Liberty Broadband by 107.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,899,318 shares of the company’s stock valued at $224,088,000 after buying an additional 1,502,249 shares in the last quarter. Whitebox Advisors LLC boosted its holdings in shares of Liberty Broadband by 29.5% in the 2nd quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company’s stock worth $163,260,000 after acquiring an additional 677,785 shares in the last quarter. Millennium Management LLC grew its position in Liberty Broadband by 67.4% during the 2nd quarter. Millennium Management LLC now owns 1,032,186 shares of the company’s stock worth $56,584,000 after acquiring an additional 415,619 shares during the last quarter. Barclays PLC increased its holdings in Liberty Broadband by 6.4% during the 3rd quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock valued at $533,251,000 after purchasing an additional 415,496 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Liberty Broadband by 63.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 940,168 shares of the company’s stock valued at $72,666,000 after purchasing an additional 366,614 shares during the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.

About Liberty Broadband

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.