Liberty Broadband (NASDAQ:LBRDA) Stock Price Down 4.7% - Here's What Happened

Key Points

• Liberty Broadband shares fell 4.7% to about $35.36 in midday trading, with only 6,714 shares changing hands—97% below average volume.
• Weiss Ratings downgraded the stock from “sell (d)” to “sell (d-),” while the broader analyst consensus remains “Sell.”
• Institutional investors generally increased their holdings, but hedge funds and other institutions own only 10.29% of the company. Liberty Broadband’s main assets are its significant stake in Charter Communications and an interest in GCI Liberty.

Liberty Broadband Corporation (NASDAQ:LBRDA - Get Free Report) was down 4.7% during mid-day trading on Wednesday . The stock traded as low as $35.37 and last traded at $35.3610. Approximately 6,714 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 197,387 shares. The stock had previously closed at $37.11.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Liberty Broadband from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Liberty Broadband Trading Down 4.8%

The business's 50-day moving average price is $32.07 and its 200-day moving average price is $41.84. The firm has a market capitalization of $5.07 billion, a PE ratio of -5.05 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.09 and a quick ratio of 0.09.

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

Hedge Funds Weigh In On Liberty Broadband

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in Liberty Broadband by 35.0% during the 1st quarter. AQR Capital Management LLC now owns 16,572 shares of the company's stock worth $1,409,000 after acquiring an additional 4,298 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Liberty Broadband by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 25,897 shares of the company's stock valued at $2,201,000 after purchasing an additional 319 shares during the period. Empowered Funds LLC purchased a new stake in shares of Liberty Broadband during the first quarter worth approximately $304,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Liberty Broadband by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,796 shares of the company's stock worth $3,468,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Liberty Broadband by 66.2% during the second quarter. Franklin Resources Inc. now owns 615 shares of the company's stock worth $60,000 after purchasing an additional 245 shares during the period. Hedge funds and other 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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