Liberty Broadband Co. (NASDAQ:LBRDA) Sees Significant Drop in Short Interest

Liberty Broadband Co. (NASDAQ:LBRDA) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 328,200 shares, a drop of 8.7% from the September 30th total of 359,400 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 145,800 shares, the days-to-cover ratio is currently 2.3 days.

Insider Buying and Selling

In other news, insider Renee L. Wilm sold 4,423 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total value of $338,624.88. Following the sale, the insider now owns 3,670 shares of the company’s stock, valued at $280,975.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Renee L. Wilm sold 4,423 shares of Liberty Broadband stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total value of $338,624.88. Following the sale, the insider now owns 3,670 shares of the company’s stock, valued at approximately $280,975.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 14.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Liberty Broadband by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,570,076 shares of the company’s stock valued at $126,611,000 after acquiring an additional 5,709 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Liberty Broadband by 279.6% in the first quarter. BNP Paribas Financial Markets now owns 111,680 shares of the company’s stock valued at $6,379,000 after buying an additional 82,261 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Liberty Broadband during the first quarter worth approximately $72,000. GSA Capital Partners LLP bought a new position in Liberty Broadband during the 1st quarter worth $732,000. Finally, Rehmann Capital Advisory Group raised its holdings in Liberty Broadband by 18.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 4,349 shares of the company’s stock valued at $248,000 after acquiring an additional 691 shares in the last quarter. 10.29% of the stock is owned by institutional investors and hedge funds.

Liberty Broadband Stock Performance

Shares of LBRDA stock opened at $81.11 on Thursday. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 13.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 1.68. Liberty Broadband has a 52 week low of $47.17 and a 52 week high of $87.49. The company has a 50-day simple moving average of $70.23 and a 200 day simple moving average of $60.13.

Liberty Broadband (NASDAQ:LBRDA) last posted its earnings results on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $3.12 by ($1.76). The firm had revenue of $246.00 million during the quarter. Liberty Broadband had a net margin of 81.86% and a return on equity of 8.79%. During the same quarter last year, the firm earned $1.71 earnings per share.

Wall Street Analyst Weigh In

Several research firms have issued reports on LBRDA. Citigroup lowered shares of Liberty Broadband from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $57.00 in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on Liberty Broadband from $104.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 16th.

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.