Liberty Broadband (NASDAQ:LBRDA) Shares Down 3.7% - Here's What Happened

Key Points

• Shares fell 3.7% mid-day to about $49.48 (low $49.61) on just 22,515 shares traded, an 87% decline from average volume, after closing at $51.39 the prior session.
• Analyst sentiment is negative — Weiss Ratings reaffirmed a Sell and MarketBeat shows an average rating of Sell for LBRDA.
• Director J. David Wargo sold 2,232 shares at $57.61 (cutting his position by ~82.6%); insiders own 11.59% — Liberty Broadband is primarily a holding company with a large equity stake in Charter Communications.

Shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Get Free Report) fell 3.7% during mid-day trading on Tuesday . The company traded as low as $49.61 and last traded at $49.4760. 22,515 shares were traded during mid-day trading, a decline of 87% from the average session volume of 171,745 shares. The stock had previously closed at $51.39.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Liberty Broadband in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Liberty Broadband has an average rating of "Sell".

Liberty Broadband Stock Performance

The stock has a fifty day moving average price of $51.06 and a 200 day moving average price of $51.91. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.14. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of -2.71 and a beta of 0.95.

Insider Activity

In related news, Director J David Wargo sold 2,232 shares of the firm's stock in a transaction 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 transaction, the director directly owned 471 shares in the company, valued at approximately $27,134.31. This trade represents a 82.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 11.59% of the company's stock.

Institutional Trading of Liberty Broadband

Several hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC bought a new stake in shares of Liberty Broadband in the third quarter valued at approximately $36,000. Franklin Resources Inc. grew its position in Liberty Broadband by 66.2% in the 2nd quarter. Franklin Resources Inc. now owns 615 shares of the company's stock worth $60,000 after purchasing an additional 245 shares during the last quarter. Comerica Bank increased its holdings in shares of Liberty Broadband by 104.2% during the 4th quarter. Comerica Bank now owns 1,027 shares of the company's stock worth $50,000 after purchasing an additional 524 shares during the period. Federation des caisses Desjardins du Quebec raised its position in shares of Liberty Broadband by 22.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company's stock valued at $66,000 after buying an additional 248 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Liberty Broadband by 62.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 2,245 shares of the company's stock valued at $220,000 after buying an additional 862 shares during the period. Institutional investors own 10.29% of the company's stock.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter's Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.