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

Liberty Broadband Co. (NASDAQ:LBRDK) gapped down prior to trading on Thursday . The stock had previously closed at $79.77, but opened at $75.13. Liberty Broadband shares last traded at $75.31, with a volume of 76,684 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Liberty Broadband in a report on Friday, January 24th. They set a “sell” rating on the stock.

Liberty Broadband Trading Down 8.8 %

The company has a 50-day moving average price of $79.58 and a 200 day moving average price of $74.42. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 13.40 and a beta of 1.04.

Liberty Broadband (NASDAQ:LBRDK) last posted its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($1.69). The business had revenue of $262.00 million during the quarter, compared to analyst estimates of $237.41 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter last year, the firm earned $1.10 earnings per share. As a group, research analysts anticipate that Liberty Broadband Co. will post 7.71 earnings per share for the current fiscal year.

Insider Activity at Liberty Broadband

In other news, CEO Gregory B. Maffei sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,435,256 shares of the company’s stock, valued at approximately $114,447,313.44. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 196,542 shares of company stock worth $15,834,108. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Liberty Broadband

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC raised its stake in shares of Liberty Broadband by 6.4% in the 3rd quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock valued at $533,251,000 after purchasing an additional 415,496 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Liberty Broadband by 23.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,585,407 shares of the company’s stock valued at $268,045,000 after acquiring an additional 686,089 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Liberty Broadband by 1.6% in the third quarter. Geode Capital Management LLC now owns 2,014,571 shares of the company’s stock valued at $155,736,000 after acquiring an additional 31,484 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Liberty Broadband by 63.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 940,168 shares of the company’s stock worth $72,666,000 after acquiring an additional 366,614 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd boosted its position in Liberty Broadband by 0.8% during the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 838,969 shares of the company’s stock valued at $62,721,000 after purchasing an additional 6,841 shares during the last quarter. Institutional investors own 80.22% of the company’s stock.

About Liberty Broadband

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.