Liberty Broadband (NASDAQ:LBRDK) Shares Down 5.9% – Here’s What Happened

Liberty Broadband Co. (NASDAQ:LBRDK)’s share price dropped 5.9% during trading on Monday . The company traded as low as $81.13 and last traded at $81.40. Approximately 478,893 shares changed hands 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.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com started coverage on Liberty Broadband in a report on Saturday. They issued a “sell” rating for the company. Rosenblatt Securities lifted their target price on shares of Liberty Broadband from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th.

Liberty Broadband Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a fifty day simple moving average of $84.86 and a 200-day simple moving average of $68.24. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 14.98 and a beta of 1.02.

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

Insider Activity

In other Liberty Broadband news, insider Renee L. Wilm sold 4,423 shares of the 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 owns 3,670 shares of the company’s stock, valued at $280,975.20. This represents a 54.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total value of $167,454.72. Following the sale, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at $838,335.36. The trade was a 16.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,673 shares of company stock worth $509,688 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Liberty Broadband

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new stake in shares of Liberty Broadband during the 3rd quarter valued at approximately $175,000. Tidal Investments LLC acquired a new stake in Liberty Broadband during the third quarter worth $217,000. Wilmington Savings Fund Society FSB purchased a new stake in Liberty Broadband in the third quarter valued at $8,773,000. Sanctuary Advisors LLC acquired a new position in shares of Liberty Broadband in the 3rd quarter valued at $225,000. Finally, Geode Capital Management LLC increased its position in shares of Liberty Broadband by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,014,571 shares of the company’s stock worth $155,736,000 after purchasing an additional 31,484 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Company 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.