Liberty Broadband (NASDAQ:LBRDA) Shares Gap Down - Here's Why

Key Points

• Liberty Broadband shares gapped down at Friday’s open, falling from a prior close of $29.70 to $26.50 before recovering some ground to last trade near $28.93.
• Analyst sentiment remains weak, with Weiss Ratings reaffirming a “sell (d)” rating and MarketBeat data showing an overall average rating of “Sell.”
• Recent trading has been under pressure, with the stock below both its 50-day moving average of $31.91 and 200-day moving average of $42.95, while the company reported $1.41 EPS in its latest quarterly results.

Shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $29.70, but opened at $26.50. Liberty Broadband shares last traded at $28.9250, with a volume of 40,704 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

Liberty Broadband Trading Down 3.3%

The company's 50 day moving average price is $31.91 and its two-hundred day moving average price is $42.95. The firm has a market cap of $4.12 billion, a PE ratio of -1.51 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.41 EPS for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Slotnik Capital LLC bought a new stake in shares of Liberty Broadband during the fourth quarter worth $12,731,000. Squarepoint Ops LLC grew its holdings in shares of Liberty Broadband by 364.1% in the third quarter. Squarepoint Ops LLC now owns 322,751 shares of the company's stock worth $20,440,000 after purchasing an additional 253,211 shares during the last quarter. Norges Bank bought a new position in shares of Liberty Broadband in the fourth quarter worth about $10,408,000. UBS Group AG increased its stake in Liberty Broadband by 390.6% in the 4th quarter. UBS Group AG now owns 222,860 shares of the company's stock worth $10,760,000 after buying an additional 177,431 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Liberty Broadband by 3,768.1% in the 3rd quarter. Alliancebernstein L.P. now owns 161,880 shares of the company's stock worth $10,252,000 after buying an additional 157,695 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.

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