Liberty Broadband (NASDAQ:LBRDK) Shares Down 3.7% - Here's What Happened

Key Points

• Shares fell 3.7% — Liberty Broadband traded down to about $49.57 mid-day (low $49.56) on roughly 318,340 shares, a ~74% drop from its average daily volume of ~1.23 million.
• Analyst sentiment is negative with a consensus Sell rating; Weiss Ratings recently reaffirmed a "sell (d)" on the stock.
• Director J. David Wargo sold 44,450 shares at $57.30 (~$2.55M), cutting his position by ~70%; insiders own 10.8% and institutions hold 80.22%, and the company's primary asset is its equity stake in Charter Communications.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report)'s share price was down 3.7% during mid-day trading on Tuesday . The stock traded as low as $49.56 and last traded at $49.57. Approximately 318,340 shares traded hands during trading, a decline of 74% from the average daily volume of 1,232,059 shares. The stock had previously closed at $51.46.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Liberty Broadband in a report on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Sell".

Liberty Broadband Price Performance

The stock has a market capitalization of $7.31 billion, a PE ratio of -2.72 and a beta of 0.95. The firm's 50 day simple moving average is $51.17 and its 200 day simple moving average is $52.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.10 and a quick ratio of 0.10.

Insider Transactions at Liberty Broadband

In other Liberty Broadband news, Director J David Wargo sold 44,450 shares of Liberty Broadband stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $57.30, for a total value of $2,546,985.00. Following the transaction, the director directly owned 19,150 shares of the company's stock, valued at $1,097,295. The trade was a 69.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Liberty Broadband

Institutional investors have recently added to or reduced their stakes in the company. Highlander Partners L.P. purchased a new stake in shares of Liberty Broadband during the fourth quarter worth about $26,000. eCIO Inc. bought a new stake in shares of Liberty Broadband in the 4th quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new position in shares of Liberty Broadband during the third quarter valued at approximately $42,000. Rothschild Investment LLC raised its holdings in shares of Liberty Broadband by 7,253.8% during the fourth quarter. Rothschild Investment LLC now owns 956 shares of the company's stock valued at $46,000 after acquiring an additional 943 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in Liberty Broadband in the third quarter worth $47,000. Hedge funds and other institutional investors own 80.22% of the company's stock.

Liberty Broadband Company Profile

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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