Liberty Broadband Corporation (NASDAQ:LBRDK) Short Interest Up 68.0% in August

Liberty Broadband Corporation (NASDAQ:LBRDK) was the recipient of a large increase in short interest in August. As of August 14th, there was short interest totaling 7,337,946 shares, an increase of 68.0% from the July 30th total of 4,367,337 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,601,713 shares, the days-to-cover ratio is currently 4.6 days.

Liberty Broadband Price Performance

Shares of Liberty Broadband stock opened at $36.02 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.09 and a current ratio of 0.09. Liberty Broadband has a 52-week low of $26.25 and a 52-week high of $65.72. The company has a fifty day moving average of $33.46 and a 200-day moving average of $40.49. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -5.15 and a beta of 0.64.

Analysts Set New Price Targets

LBRDK has been the subject of several research reports. Wall Street Zen lowered shares of Liberty Broadband from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Citigroup dropped their price target on Liberty Broadband from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Weiss Ratings cut Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Liberty Broadband presently has an average rating of “Hold” and an average price target of $42.00.

Institutional Investors Weigh In On Liberty Broadband

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its position in Liberty Broadband by 3.7% during the 1st quarter. AQR Capital Management LLC now owns 20,132 shares of the company’s stock worth $1,707,000 after acquiring an additional 717 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Liberty Broadband by 4.4% in the first quarter. Integrated Wealth Concepts LLC now owns 4,092 shares of the company’s stock valued at $348,000 after purchasing an additional 174 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Liberty Broadband by 38.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,773 shares of the company’s stock valued at $2,617,000 after purchasing an additional 8,521 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Liberty Broadband by 503.1% during the first quarter. Jones Financial Companies Lllp now owns 2,943 shares of the company’s stock valued at $250,000 after purchasing an additional 2,455 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Liberty Broadband by 94.3% in the first quarter. Goldman Sachs Group Inc. now owns 778,238 shares of the company’s stock worth $66,189,000 after purchasing an additional 377,602 shares during the last quarter. 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.