Liberty Broadband (NASDAQ:LBRDA) Shares Down 4.7% – Here’s What Happened

Liberty Broadband Corporation (NASDAQ:LBRDA)’s share price dropped 4.7% on Wednesday . The stock traded as low as $35.37 and last traded at $35.3610. Approximately 6,714 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 197,387 shares. The stock had previously closed at $37.11.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

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 firm has a fifty day simple moving average of $32.31 and a two-hundred day simple moving average of $41.72. The firm has a market cap of $5.29 billion, a PE ratio of -5.27 and a beta of 0.64.

Liberty Broadband (NASDAQ:LBRDA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.41 earnings per share (EPS) for the quarter.

Institutional Trading of Liberty Broadband

A number of large investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its position in Liberty Broadband by 66.2% in the second quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock worth $60,000 after acquiring an additional 245 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Liberty Broadband by 22.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company’s stock worth $66,000 after purchasing an additional 248 shares during the period. American Century Companies Inc. lifted its position in Liberty Broadband by 8.3% in the second quarter. American Century Companies Inc. now owns 3,453 shares of the company’s stock worth $338,000 after buying an additional 265 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Liberty Broadband by 2.0% in the 2nd quarter. California State Teachers Retirement System now owns 15,195 shares of the company’s stock worth $1,486,000 after acquiring an additional 303 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Liberty Broadband by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 25,897 shares of the company’s stock valued at $2,201,000 after purchasing an additional 319 shares during the period. 10.29% of the stock is currently owned by institutional investors.

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.