Short Interest in Liberty Broadband Corporation (NASDAQ:LBRDA) Drops By 14.1%

Liberty Broadband Corporation (NASDAQ:LBRDA) saw a large decline in short interest in February. As of February 27th, there was short interest totaling 401,499 shares, a decline of 14.1% from the February 12th total of 467,316 shares. Based on an average daily trading volume, of 101,483 shares, the days-to-cover ratio is currently 4.0 days. Currently, 0.3% of the shares of the stock are short sold. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 101,483 shares, the days-to-cover ratio is currently 4.0 days.

Insider Activity

In other news, Director J David Wargo sold 44,450 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 19,150 shares in the company, valued at $1,097,295. This trade represents a 69.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new stake in Liberty Broadband in the 3rd quarter valued at $36,000. Franklin Resources Inc. raised its stake in shares of Liberty Broadband by 66.2% during the 2nd quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock worth $60,000 after purchasing an additional 245 shares in the last quarter. Comerica Bank boosted its holdings in shares of 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 buying an additional 524 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its stake in shares of Liberty Broadband by 22.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company’s stock valued at $66,000 after buying an additional 248 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Liberty Broadband by 62.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 2,245 shares of the company’s stock valued at $220,000 after buying an additional 862 shares in the last quarter. Institutional investors and hedge funds own 10.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.00.

Liberty Broadband Stock Up 2.4%

Shares of NASDAQ:LBRDA traded up $1.21 during mid-day trading on Tuesday, reaching $51.72. 242,720 shares of the stock were exchanged, compared to its average volume of 170,647. The stock’s 50 day simple moving average is $50.36 and its 200-day simple moving average is $52.60. Liberty Broadband has a one year low of $42.05 and a one year high of $102.38. The company has a market cap of $7.42 billion, a P/E ratio of -2.76 and a beta of 0.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.14.

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.