Liberty Broadband (LBRDA) Downgraded to “Strong Sell” at BidaskClub
BidaskClub downgraded shares of Liberty Broadband (NASDAQ:LBRDA) from a sell rating to a strong sell rating in a report released on Saturday.
LBRDA has been the topic of a number of other reports. Pivotal Research reissued a buy rating and set a $108.00 price target (up from $107.00) on shares of Liberty Broadband in a research note on Tuesday, August 15th. TheStreet lowered Liberty Broadband from a b rating to a c+ rating in a research note on Wednesday, August 16th. lifted their price target on Liberty Broadband from $108.00 to $113.00 and gave the company a buy rating in a research note on Wednesday, November 15th. Finally, Telsey Advisory Group reissued an outperform rating and set a $125.00 price target (up from $95.00) on shares of Liberty Broadband in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $113.25.
Shares of Liberty Broadband (LBRDA) traded down $0.81 during mid-day trading on Friday, hitting $83.79. The stock had a trading volume of 394,574 shares, compared to its average volume of 136,038. Liberty Broadband has a 12-month low of $69.64 and a 12-month high of $104.35. The firm has a market capitalization of $15,236.79, a price-to-earnings ratio of 837.90 and a beta of 1.33. The company has a quick ratio of 11.64, a current ratio of 11.64 and a debt-to-equity ratio of 0.06.
Liberty Broadband (NASDAQ:LBRDA) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.08). Liberty Broadband had a net margin of 142.91% and a return on equity of 0.22%. analysts forecast that Liberty Broadband will post 0.13 EPS for the current year.
In related news, Director John C. Malone sold 8,550 shares of Liberty Broadband stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $94.87, for a total value of $811,138.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John C. Malone sold 45,000 shares of Liberty Broadband stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $94.21, for a total value of $4,239,450.00. Following the completion of the transaction, the director now directly owns 3,452,779 shares in the company, valued at $325,286,309.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,600 shares of company stock worth $13,372,539. 6.09% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of LBRDA. State of Wisconsin Investment Board increased its holdings in Liberty Broadband by 372.3% in the third quarter. State of Wisconsin Investment Board now owns 393,298 shares of the company’s stock worth $37,041,000 after purchasing an additional 310,026 shares in the last quarter. Newtyn Management LLC bought a new stake in Liberty Broadband in the third quarter worth approximately $23,074,000. Artemis Investment Management LLP increased its holdings in Liberty Broadband by 40.6% in the second quarter. Artemis Investment Management LLP now owns 669,279 shares of the company’s stock worth $58,050,000 after purchasing an additional 193,130 shares in the last quarter. Simcoe Capital Management LLC bought a new stake in Liberty Broadband in the third quarter worth approximately $13,207,000. Finally, Leucadia National Corp bought a new stake in Liberty Broadband in the second quarter worth approximately $9,615,000. Institutional investors and hedge funds own 12.34% of the company’s stock.
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Liberty Broadband Company Profile
Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook). The Company’s segments include Skyhook, Charter, and Corporate and other. Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.
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