Liberty Broadband (NASDAQ:LBRDK) Shares Gap Down – Time to Sell?

Liberty Broadband Co. (NASDAQ:LBRDK)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $97.62, but opened at $93.64. Liberty Broadband shares last traded at $92.19, with a volume of 380,509 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LBRDK shares. Rosenblatt Securities increased their price objective on Liberty Broadband from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. StockNews.com started coverage on Liberty Broadband in a research report on Wednesday. They set a “sell” rating for the company. Finally, Morgan Stanley increased their price objective on Liberty Broadband from $62.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th.

Liberty Broadband Stock Down 3.2 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a fifty day moving average price of $77.37 and a 200 day moving average price of $63.68. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 16.51 and a beta of 1.02.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $2.68 by ($1.69). The business had revenue of $262.00 million during the quarter, compared to analyst estimates of $237.41 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same period in the prior year, the business earned $1.10 earnings per share. As a group, sell-side analysts expect that Liberty Broadband Co. will post 6.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total transaction of $338,624.88. Following the completion of the transaction, the insider now directly owns 3,670 shares of the company’s stock, valued at approximately $280,975.20. The trade was a 54.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Brian J. Wendling sold 2,208 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total value of $167,454.72. Following the transaction, the chief accounting officer now directly owns 11,054 shares of the company’s stock, valued at $838,335.36. The trade was a 16.65 % decrease in their position. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liberty Broadband

Several hedge funds have recently bought and sold shares of LBRDK. Assenagon Asset Management S.A. increased its position in Liberty Broadband by 107.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,899,318 shares of the company’s stock worth $224,088,000 after buying an additional 1,502,249 shares in the last quarter. Whitebox Advisors LLC increased its position in Liberty Broadband by 29.5% during the second quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company’s stock worth $163,260,000 after buying an additional 677,785 shares in the last quarter. Millennium Management LLC increased its position in Liberty Broadband by 67.4% during the second quarter. Millennium Management LLC now owns 1,032,186 shares of the company’s stock worth $56,584,000 after buying an additional 415,619 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Liberty Broadband by 63.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 940,168 shares of the company’s stock worth $72,666,000 after buying an additional 366,614 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Liberty Broadband by 19.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock worth $113,045,000 after buying an additional 330,159 shares in the last quarter. Hedge funds and other institutional investors 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.