Liberty Broadband (NASDAQ:LBRDK) Shares Down 3.7% – Here’s What Happened

Liberty Broadband Corporation (NASDAQ:LBRDK)’s share price was down 3.7% during mid-day trading on Tuesday . The company traded as low as $49.56 and last traded at $49.57. Approximately 318,340 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,232,059 shares. The stock had previously closed at $51.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Liberty Broadband Stock Up 0.0%

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market capitalization of $7.22 billion, a PE ratio of -2.69 and a beta of 0.96. The company has a 50 day moving average price of $51.45 and a 200-day moving average price of $52.00.

Insider Activity at Liberty Broadband

In other news, Director J David Wargo sold 2,232 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $57.61, for a total value of $128,585.52. Following the completion of the sale, the director directly owned 471 shares of the company’s stock, valued at approximately $27,134.31. This trade represents a 82.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Highlander Partners L.P. purchased a new stake in Liberty Broadband in the fourth quarter worth about $26,000. eCIO Inc. bought a new stake in Liberty Broadband during the 4th quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new position in shares of Liberty Broadband during the 3rd quarter worth approximately $42,000. Rothschild Investment LLC raised its position in shares of Liberty Broadband by 7,253.8% in the 4th quarter. Rothschild Investment LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 943 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Liberty Broadband in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

About Liberty Broadband

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.