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

Liberty Broadband Co. (NASDAQ:LBRDA)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $79.22, but opened at $74.90. Liberty Broadband shares last traded at $74.71, with a volume of 33,187 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LBRDA shares. Rosenblatt Securities cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and raised their price target for the company from $91.00 to $92.00 in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $95.00 price objective (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th.

Liberty Broadband Stock Down 8.8 %

The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 13.29 and a beta of 1.06. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $78.94 and its two-hundred day simple moving average is $73.67.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.66). The business had revenue of $262.00 million during the quarter, compared to analysts’ expectations of $242.40 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same period in the previous year, the business posted $1.10 EPS.

Insider Transactions at Liberty Broadband

In other news, CEO Gregory B. Maffei sold 71,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.00, for a total transaction of $5,863,000.00. Following the transaction, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at $231,815,066. This represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 196,542 shares of company stock worth $15,834,108 over the last ninety days. 14.19% of the stock is currently owned by company insiders.

Institutional Trading of Liberty Broadband

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Liberty Broadband by 38.3% in the second quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company’s stock valued at $20,544,000 after purchasing an additional 104,268 shares in the last quarter. Sei Investments Co. lifted its position in shares of Liberty Broadband by 13.2% in the second quarter. Sei Investments Co. now owns 13,826 shares of the company’s stock valued at $755,000 after acquiring an additional 1,616 shares in the last quarter. Bank of Montreal Can raised its stake in Liberty Broadband by 1,265.6% in the 2nd quarter. Bank of Montreal Can now owns 8,221 shares of the company’s stock valued at $450,000 after purchasing an additional 7,619 shares during the last quarter. AQR Capital Management LLC purchased a new position in Liberty Broadband in the 2nd quarter valued at about $419,000. Finally, Creative Planning boosted its stake in shares of Liberty Broadband by 170.8% during the 2nd quarter. Creative Planning now owns 10,698 shares of the company’s stock worth $584,000 after purchasing an additional 6,748 shares during the last quarter. Institutional investors and hedge funds own 10.29% of the company’s stock.

Liberty Broadband Company Profile

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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.