Short Interest in Liberty Broadband Co. (NASDAQ:LBRDK) Drops By 18.0%

Liberty Broadband Co. (NASDAQ:LBRDK) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,420,000 shares, a decrease of 18.0% from the November 15th total of 4,170,000 shares. Based on an average daily volume of 1,320,000 shares, the short-interest ratio is presently 2.6 days. Approximately 3.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Liberty Broadband in a report on Sunday. They set a “sell” rating for the company.

Liberty Broadband Stock Down 1.1 %

Shares of LBRDK traded down $0.93 on Friday, reaching $82.38. The stock had a trading volume of 920,065 shares, compared to its average volume of 1,194,450. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 15.17 and a beta of 1.02. The company has a 50-day simple moving average of $85.11 and a 200-day simple moving average of $68.77. Liberty Broadband has a 12-month low of $46.46 and a 12-month high of $101.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDK) last released its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($1.69). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The business had revenue of $262.00 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same period in the prior year, the company earned $1.10 earnings per share. Sell-side analysts predict that Liberty Broadband will post 6.72 EPS for the current year.

Insider Buying and Selling

In other Liberty Broadband news, CAO Brian J. Wendling sold 2,208 shares of the company’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 completion of the sale, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at $838,335.36. This represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband 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 transaction, the insider now directly owns 3,670 shares in the company, valued at $280,975.20. This trade represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,673 shares of company stock worth $509,688. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

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