Liberty Broadband (NASDAQ:LBRDK) Shares Gap Down – What’s Next?

Liberty Broadband Co. (NASDAQ:LBRDK) gapped down before the market opened on Monday . The stock had previously closed at $79.70, but opened at $77.73. Liberty Broadband shares last traded at $77.94, with a volume of 18,906 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LBRDK. Rosenblatt Securities raised their price objective on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley increased their target price on shares of Liberty Broadband from $62.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th.

Liberty Broadband Price Performance

The stock has a market capitalization of $11.08 billion, a PE ratio of 13.53 and a beta of 1.03. The stock’s 50 day moving average price is $68.09 and its 200-day moving average price is $58.93. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.39.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($1.15). The business had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $244.25 million. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same period in the previous year, the company posted $1.71 EPS. As a group, equities analysts forecast that Liberty Broadband Co. will post 8.45 EPS for the current year.

Insider Transactions at Liberty Broadband

In other news, CAO Brian J. Wendling sold 2,208 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total value of $167,454.72. Following the sale, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total transaction of $338,624.88. Following the completion of the transaction, the insider now directly owns 3,670 shares of the company’s stock, valued at $280,975.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian J. Wendling sold 2,208 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the transaction, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at approximately $838,335.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Liberty Broadband by 200.7% in the third quarter. GAMMA Investing LLC now owns 424 shares of the company’s stock valued at $33,000 after purchasing an additional 283 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Liberty Broadband by 4,888.9% in the second quarter. Versant Capital Management Inc now owns 449 shares of the company’s stock valued at $25,000 after purchasing an additional 440 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in Liberty Broadband during the second quarter worth about $36,000. Mather Group LLC. raised its position in shares of Liberty Broadband by 103.7% during the 2nd quarter. Mather Group LLC. now owns 762 shares of the company’s stock valued at $44,000 after buying an additional 388 shares during the period. Finally, UniSuper Management Pty Ltd grew its holdings in shares of Liberty Broadband by 88.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,700 shares of the company’s stock worth $97,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 80.22% 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.