Liberty Broadband (NASDAQ:LBRDA) Trading Down 6.2% – Here’s What Happened

by · The Cerbat Gem

Shares of Liberty Broadband Co. (NASDAQ:LBRDA – Get Free Report) dropped 6.2% during mid-day trading on Monday . The company traded as low as $80.10 and last traded at $80.12. Approximately 161,669 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 162,755 shares. The stock had previously closed at $85.42.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LBRDA shares. Rosenblatt Securities downgraded Liberty Broadband from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $91.00 to $92.00 in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $95.00 price target (up from $90.00) on shares of Liberty Broadband in a report on Friday, November 15th.

Get Our Latest Stock Report on LBRDA

Liberty Broadband Trading Down 8.4 %

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 market cap of $11.17 billion, a PE ratio of 15.73 and a beta of 1.05. The stock has a 50-day moving average price of $84.20 and a two-hundred day moving average price of $67.24.

Liberty Broadband (NASDAQ:LBRDA – Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.66). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The firm had revenue of $262.00 million for the quarter, compared to analysts’ expectations of $242.40 million. During the same period last year, the company earned $1.10 earnings per share.

Insider Transactions at Liberty Broadband

In related news, insider Renee L. Wilm sold 4,423 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total value of $338,624.88. Following the sale, the insider now directly owns 3,670 shares of the company’s stock, valued at $280,975.20. This represents a 54.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the transaction, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at $838,335.36. This trade represents a 16.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,673 shares of company stock worth $509,688 in the last three months. Insiders own 14.19% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

Large investors have recently bought and sold shares of the business. Baupost Group LLC MA bought a new position in Liberty Broadband in the 3rd quarter worth about $581,000. Verition Fund Management LLC bought a new position in Liberty Broadband in the third quarter worth approximately $6,402,000. Creative Planning raised its position in Liberty Broadband by 48.5% during the 3rd quarter. Creative Planning now owns 15,884 shares of the company’s stock valued at $1,220,000 after purchasing an additional 5,186 shares in the last quarter. Seizert Capital Partners LLC lifted its holdings in shares of Liberty Broadband by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 394,418 shares of the company’s stock worth $30,299,000 after buying an additional 12,515 shares during the period. Finally, Private Management Group Inc. grew its position in shares of Liberty Broadband by 29.8% during the 2nd quarter. Private Management Group Inc. now owns 388,923 shares of the company’s stock worth $21,235,000 after buying an additional 89,317 shares in the last quarter. Hedge funds and other institutional investors own 10.29% of the company’s stock.

Liberty Broadband Company Profile

(Get 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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.

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