Liberty Broadband (NASDAQ:LBRDK) Shares Down 4.7% - Here's What Happened

Key Points

• Liberty Broadband shares fell 4.7% to about $35.35, with trading volume down 97% from the average session. The stock’s market capitalization is approximately $5.06 billion.
• Analyst sentiment remains negative: Wall Street Zen downgraded the stock to “strong sell,” Weiss Ratings lowered its rating, and Liberty Broadband has an overall “Sell” consensus.
• Institutional investors increased their positions during the latest reporting periods, and institutions and hedge funds collectively own 80.22% of the company.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report)'s stock price traded down 4.7% on Wednesday . The stock traded as low as $35.40 and last traded at $35.3530. 53,463 shares changed hands during trading, a decline of 97% from the average session volume of 1,634,451 shares. The stock had previously closed at $37.10.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Liberty Broadband from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Weiss Ratings lowered shares of Liberty Broadband from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Liberty Broadband presently has an average rating of "Sell".

Liberty Broadband Stock Down 4.9%

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -5.05 and a beta of 0.64. The firm has a 50 day simple moving average of $32.11 and a two-hundred day simple moving average of $41.90.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB increased its stake in Liberty Broadband by 12.6% in the second quarter. Handelsbanken Fonder AB now owns 42,011 shares of the company's stock valued at $1,397,000 after purchasing an additional 4,700 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Liberty Broadband by 8.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,416,591 shares of the company's stock valued at $80,376,000 after buying an additional 189,394 shares during the period. Versant Capital Management Inc grew its holdings in shares of Liberty Broadband by 315.9% in the 2nd quarter. Versant Capital Management Inc now owns 6,114 shares of the company's stock valued at $203,000 after buying an additional 4,644 shares during the period. Glenmede Trust Co. NA increased its position in shares of Liberty Broadband by 4.0% in the 1st quarter. Glenmede Trust Co. NA now owns 42,041 shares of the company's stock valued at $2,115,000 after buying an additional 1,628 shares in the last quarter. Finally, Essential Partners LLC raised its stake in Liberty Broadband by 153.9% during the 1st quarter. Essential Partners LLC now owns 678 shares of the company's stock worth $34,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds 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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