Liberty Broadband (NASDAQ:LBRDA) Shares Down 6.2% – Here’s Why

Liberty Broadband Co. (NASDAQ:LBRDA) traded down 6.2% during trading on Monday . The stock traded as low as $80.10 and last traded at $80.12. 161,669 shares were traded during mid-day trading, a decline of 1% from the average session volume of 162,755 shares. The stock had previously closed at $85.42.

Analyst Ratings Changes

LBRDA has been the subject of several recent research reports. Rosenblatt Securities cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and upped their target price for the company from $91.00 to $92.00 in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $95.00 price objective (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th.

Liberty Broadband Stock Up 0.3 %

The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average is $84.24 and its 200 day moving average is $67.63. The company has a market capitalization of $11.47 billion, a P/E ratio of 14.80 and a beta of 1.05.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). The firm had revenue of $262.00 million for the quarter, compared to the consensus estimate of $242.40 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter in the prior year, the business posted $1.10 earnings per share.

Insider Buying and Selling at Liberty Broadband

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 shares were sold at an average price of $76.56, for a total value of $338,624.88. Following the completion of the sale, the insider now owns 3,670 shares of the company’s stock, valued at approximately $280,975.20. This represents a 54.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian J. Wendling sold 2,208 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the sale, the chief accounting officer now directly owns 11,054 shares in the company, 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. Insiders have sold 6,673 shares of company stock worth $509,688 over the last quarter. Insiders own 14.19% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

Several institutional investors and hedge funds have recently modified their holdings of LBRDA. Baupost Group LLC MA acquired a new stake in shares of Liberty Broadband in the third quarter valued at approximately $581,000. Verition Fund Management LLC acquired a new position in shares of Liberty Broadband during the third quarter worth about $6,402,000. Creative Planning increased its position in shares of Liberty Broadband by 48.5% in 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 during the last quarter. Seizert Capital Partners LLC increased its holdings in Liberty Broadband by 3.3% in the third quarter. Seizert Capital Partners LLC now owns 394,418 shares of the company’s stock valued at $30,299,000 after buying an additional 12,515 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in Liberty Broadband by 29.8% in the second quarter. Private Management Group Inc. now owns 388,923 shares of the company’s stock valued at $21,235,000 after purchasing an additional 89,317 shares in the last quarter. Hedge funds and other institutional investors own 10.29% of the company’s stock.

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. 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.