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

Shares of Liberty Broadband Corporation (NASDAQ:LBRDA) gapped down prior to trading 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 traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Liberty Broadband Price Performance

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $31.91 and its two-hundred day moving average price is $42.95. The stock has a market cap of $4.12 billion, a PE ratio of -1.51 and a beta of 0.65.

Liberty Broadband (NASDAQ:LBRDA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.41 earnings per share (EPS) for the quarter.

Institutional Trading of Liberty Broadband

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in shares of Liberty Broadband by 114.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 602 shares of the company’s stock worth $30,000 after acquiring an additional 321 shares in the last quarter. Franklin Resources Inc. grew its stake in Liberty Broadband by 66.2% in 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. Comerica Bank grew its stake in Liberty Broadband by 104.2% in the fourth quarter. Comerica Bank now owns 1,027 shares of the company’s stock valued at $50,000 after purchasing an additional 524 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in Liberty Broadband by 22.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company’s stock worth $66,000 after purchasing an additional 248 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Liberty Broadband by 388.4% in the first quarter. Parallel Advisors LLC now owns 2,154 shares of the company’s stock worth $108,000 after purchasing an additional 1,713 shares in the last quarter. Institutional investors own 10.29% of the company’s stock.

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.