Liberty Broadband (NASDAQ:LBRDA) Shares Gap Down – Here’s Why

Liberty Broadband Corporation (NASDAQ:LBRDA) gapped down before the market opened on Friday . The stock had previously closed at $29.70, but opened at $26.50. Liberty Broadband shares last traded at $28.9250, with a volume of 40,704 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Liberty Broadband Stock Down 2.8%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $31.83 and a 200-day moving average price of $42.85. The stock has a market capitalization of $4.14 billion, a P/E ratio of -1.51 and a beta of 0.65.

Liberty Broadband (NASDAQ:LBRDA) last posted its earnings results on Tuesday, April 28th. The company reported $1.41 EPS for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Liberty Broadband by 35.0% in the first quarter. AQR Capital Management LLC now owns 16,572 shares of the company’s stock valued at $1,409,000 after purchasing an additional 4,298 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in 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 in the last quarter. Empowered Funds LLC purchased a new stake in Liberty Broadband during the first quarter valued at $304,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Liberty Broadband by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,796 shares of the company’s stock valued at $3,468,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Liberty Broadband by 66.2% during the second quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock valued at $60,000 after purchasing an additional 245 shares during the last quarter. 10.29% of the stock is currently owned by institutional investors.

Liberty Broadband Company Profile

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.