Liberty Broadband (NASDAQ:LBRDK) Shares Down 4.7% – What’s Next?

Liberty Broadband Corporation (NASDAQ:LBRDK) shares were down 4.7% on Wednesday . The company traded as low as $35.40 and last traded at $35.3530. Approximately 53,463 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 1,634,451 shares. The stock had previously closed at $37.10.

Analyst Ratings Changes

Several research firms have issued reports on LBRDK. Citigroup reiterated a “buy” rating on shares of Liberty Broadband in a research report on Friday. Wall Street Zen downgraded Liberty Broadband from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings downgraded Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. One 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, Liberty Broadband currently has an average rating of “Hold”.

Liberty Broadband Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $5.29 billion, a PE ratio of -5.27 and a beta of 0.64. The company’s fifty day simple moving average is $32.34 and its two-hundred day simple moving average is $41.78.

Institutional Investors Weigh In On Liberty Broadband

Institutional investors and hedge funds have recently bought and sold shares of the stock. HBK Investments L P increased its position in Liberty Broadband by 4.1% during the fourth quarter. HBK Investments L P now owns 5,908,691 shares of the company’s stock worth $287,162,000 after buying an additional 233,691 shares in the last quarter. Norges Bank purchased a new stake in Liberty Broadband during the 4th quarter worth about $180,881,000. Millennium Management LLC raised its stake in Liberty Broadband by 23.7% in the 4th quarter. Millennium Management LLC now owns 2,533,736 shares of the company’s stock valued at $123,140,000 after purchasing an additional 485,301 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Liberty Broadband by 8.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,416,591 shares of the company’s stock valued at $80,376,000 after purchasing an additional 189,394 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Liberty Broadband by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,241,626 shares of the company’s stock worth $108,966,000 after buying an additional 25,624 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 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.