Liberty Broadband (NASDAQ:LBRDK) Sets New 1-Year Low – What’s Next?

Shares of Liberty Broadband Corporation (NASDAQ:LBRDK) reached a new 52-week low during trading on Wednesday . The stock traded as low as $33.23 and last traded at $33.3760, with a volume of 91955 shares trading hands. The stock had previously closed at $34.51.

Analysts Set New Price Targets

LBRDK has been the topic of several recent research reports. Wall Street Zen raised shares of Liberty Broadband from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Liberty Broadband has a consensus rating of “Sell”.

Liberty Broadband Stock Down 3.3%

The stock has a market cap of $4.79 billion, a PE ratio of -1.74 and a beta of 0.70. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $48.95 and a 200-day moving average price of $49.22.

Hedge Funds Weigh In On Liberty Broadband

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in Liberty Broadband by 7.3% during the first quarter. PNC Financial Services Group Inc. now owns 71,279 shares of the company’s stock valued at $3,585,000 after purchasing an additional 4,873 shares in the last quarter. Madison Asset Management LLC increased its position in shares of Liberty Broadband by 0.6% during the first quarter. Madison Asset Management LLC now owns 1,188,921 shares of the company’s stock worth $59,803,000 after purchasing an additional 7,001 shares in the last quarter. Investment Management Associates Inc. ADV increased its position in shares of Liberty Broadband by 8.8% during the first quarter. Investment Management Associates Inc. ADV now owns 467,220 shares of the company’s stock worth $23,501,000 after purchasing an additional 37,936 shares in the last quarter. Balefire LLC increased its position in shares of Liberty Broadband by 62.4% during the first quarter. Balefire LLC now owns 24,424 shares of the company’s stock worth $1,229,000 after purchasing an additional 9,389 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Liberty Broadband by 18.7% during the first quarter. KBC Group NV now owns 4,415 shares of the company’s stock worth $222,000 after purchasing an additional 697 shares in the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

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.