Liberty Broadband Corporation (NASDAQ:LBRDK) Short Interest Update

Key Points

• Short interest fell 17.5% to 3,736,572 shares as of April 15, equal to 2.9% of shares sold short and a days-to-cover ratio of 4.7 based on average daily volume.
• Institutions own 80.22% of the stock, with Vanguard, HBK, Dimensional and others increasing positions and Norges Bank initiating a large stake, while Assenagon raised its holding by 58.9%.
• Wall Street sentiment is negative—Weiss Ratings reissued a "Sell" and MarketBeat shows a consensus "Sell"—even as the stock recently traded up to $38.71 and has a market cap of $5.55 billion.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 3,736,572 shares, a decrease of 17.5% from the March 31st total of 4,527,602 shares. Based on an average daily trading volume, of 803,047 shares, the days-to-cover ratio is currently 4.7 days. Currently, 2.9% of the company's shares are sold short.

Insider Buying and Selling

In other news, Director J David Wargo sold 2,232 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $57.61, for a total value of $128,585.52. Following the completion of the sale, the director directly owned 471 shares of the company's stock, valued at $27,134.31. This represents a 82.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.80% of the company's stock.

Institutional Trading of Liberty Broadband

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Liberty Broadband by 1.7% during the third quarter. Vanguard Group Inc. now owns 11,162,599 shares of the company's stock valued at $709,272,000 after acquiring an additional 184,623 shares in the last quarter. HBK Investments L P raised its position in Liberty Broadband by 4.1% during the fourth quarter. HBK Investments L P now owns 5,908,691 shares of the company's stock valued at $287,162,000 after acquiring an additional 233,691 shares in the last quarter. Norges Bank bought a new position in Liberty Broadband during the fourth quarter valued at approximately $180,881,000. Dimensional Fund Advisors LP raised its position in Liberty Broadband by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,943,136 shares of the company's stock valued at $187,006,000 after acquiring an additional 171,378 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Liberty Broadband by 58.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,793,954 shares of the company's stock valued at $135,786,000 after acquiring an additional 1,035,126 shares in the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Broadband Stock Up 4.7%

Shares of NASDAQ LBRDK traded up $1.75 during mid-day trading on Thursday, reaching $38.71. The company had a trading volume of 1,862,819 shares, compared to its average volume of 1,434,596. The stock has a fifty day moving average of $51.35 and a two-hundred day moving average of $50.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -2.07 and a beta of 0.96. Liberty Broadband has a 12-month low of $36.60 and a 12-month high of $104.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Liberty Broadband in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

Liberty Broadband Company Profile

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company's primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.

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