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

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

Analyst Upgrades and Downgrades

Several research firms recently commented on LBRDK. Wall Street Zen raised Liberty Broadband from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reissued 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, According to MarketBeat, Liberty Broadband currently has a consensus rating of “Sell”.

Liberty Broadband Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day moving average is $31.95 and its two-hundred day moving average is $43.03. The stock has a market cap of $4.26 billion, a PE ratio of -1.55 and a beta of 0.65.

Institutional Inflows and Outflows

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

About Liberty Broadband

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.