Liberty Broadband (NASDAQ:LBRDK) Sets New 1-Year Low - Here's Why

Key Points

• New 52-week low: Liberty Broadband fell to as low as $36.40 (last $36.55) on heavy volume (~1.65M shares) while analysts' consensus rating sits at "Sell."
• Valuation/technical weakness: The company has a market cap of $5.24B, a negative P/E of -1.91, and is trading well below its 50- and 200-day moving averages (both ~$50).
• Insider selling: Director J. David Wargo sold 44,450 shares at an average of $57.30 in February (a ~69.9% reduction in his holding); insiders own 10.8% of the stock.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.40 and last traded at $36.55, with a volume of 1647502 shares traded. The stock had previously closed at $36.96.

Analysts Set New Price Targets

LBRDK has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of Liberty Broadband in a report on Friday, March 27th. Wall Street Zen upgraded shares of Liberty Broadband from a "strong sell" rating to a "sell" rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

Liberty Broadband Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.24 billion, a P/E ratio of -1.91 and a beta of 0.70. The business's 50-day simple moving average is $50.38 and its two-hundred day simple moving average is $49.85.

Insiders Place Their Bets

In other Liberty Broadband news, Director J David Wargo sold 44,450 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $57.30, for a total transaction of $2,546,985.00. Following the completion of the transaction, the director owned 19,150 shares in the company, valued at $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Liberty Broadband

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Liberty Broadband by 1.7% during the third quarter. Vanguard Group Inc. now owns 11,162,599 shares of the company's stock worth $709,272,000 after purchasing an additional 184,623 shares during the period. HBK Investments L P boosted its position in Liberty Broadband by 4.1% during the fourth quarter. HBK Investments L P now owns 5,908,691 shares of the company's stock worth $287,162,000 after purchasing an additional 233,691 shares during the period. Norges Bank bought a new position in Liberty Broadband during the fourth quarter worth about $180,881,000. Dimensional Fund Advisors LP boosted its position in Liberty Broadband by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,943,136 shares of the company's stock worth $187,006,000 after purchasing an additional 171,378 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Liberty Broadband by 58.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,793,954 shares of the company's stock worth $135,786,000 after purchasing an additional 1,035,126 shares during the period. Institutional investors own 80.22% of the company's stock.

About Liberty Broadband

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company's primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.

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