Liberty Broadband (NASDAQ:LBRDK) Shares Gap Down - Should You Sell?

Key Points

• Liberty Broadband shares experienced a significant drop, opening at $76.50 after closing at $86.75, and trading at $71.36 with a volume of 352,322 shares.
• The company was recently upgraded to a "hold" rating by Wall Street Zen, indicating mixed sentiment from analysts.
• Liberty Broadband reported an earnings per share (EPS) of $1.87 for the previous quarter and has a forecasted EPS of 7.71 for the current fiscal year.
• Approximately 80.22% of Liberty Broadband's stock is owned by institutional investors and hedge funds, which have been active in modifying their holdings recently.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $86.75, but opened at $76.50. Liberty Broadband shares last traded at $71.36, with a volume of 352,322 shares changing hands.

Analyst Ratings Changes

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

Liberty Broadband Trading Down 3.9%

The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.35. The firm's 50 day simple moving average is $93.15 and its two-hundred day simple moving average is $86.23. The stock has a market cap of $9.30 billion, a P/E ratio of 10.38 and a beta of 1.01.

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

Hedge Funds Weigh In On Liberty Broadband

A number of large investors have recently made changes to their positions in LBRDK. SouthState Corp bought a new stake in shares of Liberty Broadband in the first quarter valued at approximately $25,000. Fortitude Family Office LLC bought a new position in Liberty Broadband during the second quarter worth about $48,000. Vestor Capital LLC bought a new position in Liberty Broadband during the first quarter worth about $44,000. GAMMA Investing LLC lifted its holdings in shares of Liberty Broadband by 39.2% during the 2nd quarter. GAMMA Investing LLC now owns 589 shares of the company's stock valued at $58,000 after purchasing an additional 166 shares in the last quarter. Finally, Continuum Advisory LLC bought a new position in shares of Liberty Broadband during the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 80.22% of the company's stock.

Liberty Broadband Company Profile

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.