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

Shares of Liberty Broadband Corporation (NASDAQ:LBRDA - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $96.58, but opened at $90.85. Liberty Broadband shares last traded at $89.20, with a volume of 59,131 shares trading hands.

Analyst Ratings Changes

Separately, Benchmark dropped their price objective on Liberty Broadband from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, March 31st.

Liberty Broadband Stock Performance

The business has a 50 day simple moving average of $94.28 and a 200 day simple moving average of $84.97. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $12.48 billion, a PE ratio of 13.91 and a beta of 1.00.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.20 by $0.67. Liberty Broadband had a return on equity of 9.24% and a net margin of 86.40%. The firm had revenue of $266.00 million for the quarter, compared to analyst estimates of $248.60 million.

Institutional Trading of Liberty Broadband

Several institutional investors have recently bought and sold shares of the business. JNE Partners LLP acquired a new stake in shares of Liberty Broadband in the fourth quarter worth approximately $47,230,000. Westchester Capital Management LLC purchased a new position in Liberty Broadband during the first quarter worth approximately $19,622,000. Norges Bank purchased a new position in Liberty Broadband during the fourth quarter worth approximately $15,896,000. Aristeia Capital L.L.C. lifted its position in Liberty Broadband by 9.1% during the fourth quarter. Aristeia Capital L.L.C. now owns 1,675,445 shares of the company's stock worth $124,586,000 after buying an additional 139,186 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in Liberty Broadband during the fourth quarter worth approximately $10,190,000. 10.29% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Company Profile

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.