Liberty Broadband Co. (NASDAQ:LBRDK) Short Interest Up 24.3% in May

Liberty Broadband Co. (NASDAQ:LBRDKGet Rating) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 5,580,000 shares, a growth of 24.3% from the May 15th total of 4,490,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is currently 5.1 days. Currently, 4.3% of the shares of the company are sold short.

In other news, Director J David Wargo acquired 300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average cost of $110.76 per share, with a total value of $33,228.00. Following the acquisition, the director now owns 32,214 shares in the company, valued at $3,568,022.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.80% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Liberty Broadband by 26.0% during the first quarter. Bank of America Corp DE now owns 2,714,982 shares of the company’s stock worth $367,391,000 after purchasing an additional 560,796 shares during the period. Verition Fund Management LLC lifted its position in shares of Liberty Broadband by 28.6% during the 1st quarter. Verition Fund Management LLC now owns 31,863 shares of the company’s stock worth $4,312,000 after buying an additional 7,079 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Liberty Broadband by 3.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,496 shares of the company’s stock valued at $1,961,000 after buying an additional 497 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Liberty Broadband by 3.3% in the 1st quarter. Neuberger Berman Group LLC now owns 11,606 shares of the company’s stock valued at $1,571,000 after buying an additional 368 shares in the last quarter. Finally, Toroso Investments LLC grew its position in Liberty Broadband by 10.0% in the first quarter. Toroso Investments LLC now owns 4,081 shares of the company’s stock valued at $552,000 after acquiring an additional 370 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on LBRDK shares. Pivotal Research decreased their target price on Liberty Broadband to $160.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. TheStreet cut Liberty Broadband from a “b-” rating to a “c+” rating in a research report on Monday, May 16th. Morgan Stanley boosted their target price on shares of Liberty Broadband from $124.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 2nd. Rosenblatt Securities started coverage on shares of Liberty Broadband in a report on Tuesday, April 19th. They issued a “buy” rating and a $222.00 price target for the company. Finally, StockNews.com upgraded shares of Liberty Broadband from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $180.25.

Shares of NASDAQ LBRDK opened at $103.43 on Friday. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 18.91 and a beta of 1.01. Liberty Broadband has a one year low of $102.14 and a one year high of $194.05. The business has a fifty day simple moving average of $122.18 and a 200 day simple moving average of $139.07. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.42.

Liberty Broadband (NASDAQ:LBRDKGet Rating) last announced its quarterly earnings results on Friday, May 6th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.04. The firm had revenue of $238.00 million for the quarter, compared to analyst estimates of $244.27 million. Liberty Broadband had a net margin of 99.93% and a return on equity of 9.79%. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, research analysts anticipate that Liberty Broadband will post 7.04 earnings per share for the current fiscal year.

About Liberty Broadband (Get Rating)

Liberty Broadband Corporation engages in the communications businesses. It operates through GCI Holdings and Charter segments. The GCI Holdings segment provides a range of wireless, data, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions primarily in Alaska under the GCI brand.

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