Liberty Broadband (NASDAQ:LBRDK) Reaches New 12-Month Low - Here's What Happened

Key Points

• Liberty Broadband's stock hit a new 52-week low, trading at $58.35, down 0.9% from its previous close of $58.82.
• Wall Street analysts have upgraded Liberty Broadband to a "hold" rating, despite the recent decline in share price.
• The company reported $1.87 earnings per share and a total revenue of $256 million in its latest earnings announcement.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $58.35 and last traded at $58.39, with a volume of 1438724 shares. The stock had previously closed at $58.82.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Liberty Broadband to a "hold" rating in a report on Saturday, July 12th.

Liberty Broadband Stock Down 0.9%

The company has a 50 day moving average price of $87.40 and a 200-day moving average price of $85.27. The stock has a market capitalization of $8.36 billion, a PE ratio of 9.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.39 and a quick ratio of 1.39.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share (EPS) for the quarter. Liberty Broadband had a return on equity of 9.24% and a net margin of 88.10%. The firm had revenue of $256.00 million during the quarter. As a group, analysts forecast that Liberty Broadband Corporation will post 7.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LBRDK. Teacher Retirement System of Texas purchased a new stake in Liberty Broadband during the first quarter valued at approximately $2,666,000. Amalgamated Bank raised its holdings in Liberty Broadband by 5.8% in the 1st quarter. Amalgamated Bank now owns 6,293 shares of the company's stock worth $535,000 after purchasing an additional 346 shares during the period. Highland Capital Management LLC purchased a new position in Liberty Broadband during the first quarter valued at $1,163,000. Envestnet Asset Management Inc. lifted its position in Liberty Broadband by 9.1% during the first quarter. Envestnet Asset Management Inc. now owns 155,091 shares of the company's stock valued at $13,191,000 after purchasing an additional 12,878 shares in the last quarter. Finally, Hi Line Capital Management LLC grew its holdings in Liberty Broadband by 17.9% during the first quarter. Hi Line Capital Management LLC now owns 165,319 shares of the company's stock valued at $14,060,000 after purchasing an additional 25,132 shares during the period. Institutional investors own 80.22% of the company's stock.

About Liberty Broadband

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.

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