Liberty Broadband (NASDAQ:LBRDA) Stock Price Down 18.3% – Time to Sell?
by Kim Johansen · The Markets DailyShares of Liberty Broadband Corporation (NASDAQ:LBRDA – Get Free Report) fell 18.3% during mid-day trading on Friday . The stock traded as low as $47.47 and last traded at $46.0760. 28,358 shares traded hands during trading, a decline of 83% from the average session volume of 165,566 shares. The stock had previously closed at $56.41.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Liberty Broadband currently has a consensus rating of “Sell”.
Check Out Our Latest Research Report on Liberty Broadband
Liberty Broadband Trading Down 23.5%
The company’s 50-day moving average price is $52.51 and its 200-day moving average price is $50.97. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of -2.30 and a beta of 0.96. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.14.
Insiders Place Their Bets
In related news, Director J David Wargo sold 44,450 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were 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 approximately $1,097,295. This trade represents a 69.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.70% of the company’s stock.
Hedge Funds Weigh In On Liberty Broadband
A number of hedge funds have recently made changes to their positions in the company. Quent Capital LLC purchased a new position in shares of Liberty Broadband in the third quarter valued at approximately $36,000. Franklin Resources Inc. raised its stake in Liberty Broadband by 66.2% in the 2nd quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock valued at $60,000 after purchasing an additional 245 shares during the last quarter. Comerica Bank lifted its holdings in Liberty Broadband by 104.2% in the 4th quarter. Comerica Bank now owns 1,027 shares of the company’s stock valued at $50,000 after purchasing an additional 524 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in Liberty Broadband by 22.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company’s stock worth $66,000 after purchasing an additional 248 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Liberty Broadband by 62.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,245 shares of the company’s stock worth $220,000 after purchasing an additional 862 shares during the last quarter. Institutional investors and hedge funds own 10.29% of the company’s stock.
About Liberty Broadband
Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.
In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.