Liberty Broadband (NASDAQ:LBRDK) Hits New 12-Month Low – Here’s What Happened

Liberty Broadband Corporation (NASDAQ:LBRDK) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.94 and last traded at $29.71, with a volume of 5806426 shares traded. The stock had previously closed at $30.40.

Analysts Set New Price Targets

LBRDK has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. Wall Street Zen raised Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Liberty Broadband Trading Down 2.8%

The stock has a market cap of $4.15 billion, a price-to-earnings ratio of -1.51 and a beta of 0.65. 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 business’s 50 day simple moving average is $31.87 and its 200 day simple moving average is $42.93.

Institutional Investors Weigh In On Liberty Broadband

A number of institutional investors and hedge funds have recently modified their holdings of the company. Highlander Partners L.P. bought a new position in Liberty Broadband during the fourth quarter worth about $26,000. Western Wealth Management LLC bought a new stake in Liberty Broadband in the first quarter valued at approximately $28,000. eCIO Inc. bought a new stake in Liberty Broadband in the fourth quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Liberty Broadband in the third quarter valued at approximately $42,000. Finally, Essential Partners LLC boosted its stake in shares of Liberty Broadband by 153.9% during the 1st quarter. Essential Partners LLC now owns 678 shares of the company’s stock worth $34,000 after acquiring an additional 411 shares during the period. 80.22% of the stock is owned by institutional investors.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company’s primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.