Liberty Broadband (NASDAQ:LBRDK) Stock Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• Liberty Broadband (NASDAQ:LBRDK) fell below its 50-day moving average on Thursday, trading as low as $30.88 before last changing hands at $31.34.
• Analyst sentiment remains weak, with Weiss Ratings reiterating a sell rating and MarketBeat showing an overall average rating of Sell.
• The company has a market cap of about $4.5 billion and is heavily backed by institutional investors, with roughly 80.22% of shares held by institutions.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $32.38 and traded as low as $30.88. Liberty Broadband shares last traded at $31.34, with a volume of 1,475,189 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LBRDK shares. Weiss Ratings restated a "sell (d)" rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Liberty Broadband from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

Liberty Broadband Stock 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 company has a market capitalization of $4.50 billion, a PE ratio of -1.63 and a beta of 0.65. The company has a 50-day moving average price of $32.38 and a two-hundred day moving average price of $43.67.

Institutional Investors Weigh In On Liberty Broadband

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp lifted its stake in Liberty Broadband by 4,476.6% in the 4th quarter. M&T Bank Corp now owns 234,824 shares of the company's stock worth $12,421,000 after purchasing an additional 229,693 shares in the last quarter. Banyan Capital Management Inc. bought a new position in Liberty Broadband in the 4th quarter valued at $3,366,000. Hudson Bay Capital Management LP grew its position in shares of Liberty Broadband by 32.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 165,000 shares of the company's stock valued at $10,484,000 after purchasing an additional 40,000 shares in the last quarter. Elser Financial Planning Inc purchased a new position in shares of Liberty Broadband during the 4th quarter valued at $1,538,000. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Liberty Broadband in the third quarter worth $19,062,000. 80.22% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.