Liberty Broadband Co. (NASDAQ:LBRDA) Sees Large Decrease in Short Interest

Liberty Broadband Co. (NASDAQ:LBRDA) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 397,100 shares, a decline of 10.4% from the June 15th total of 443,000 shares. Based on an average trading volume of 146,400 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Liberty Broadband

A number of hedge funds have recently bought and sold shares of the company. Citigroup Inc. increased its holdings in shares of Liberty Broadband by 14.2% during the third quarter. Citigroup Inc. now owns 1,348 shares of the company’s stock worth $123,000 after buying an additional 168 shares in the last quarter. Raymond James & Associates boosted its position in shares of Liberty Broadband by 4.7% during the fourth quarter. Raymond James & Associates now owns 6,739 shares of the company’s stock worth $543,000 after purchasing an additional 301 shares in the last quarter. VisionPoint Advisory Group LLC lifted its position in Liberty Broadband by 1.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 30,196 shares of the company’s stock valued at $2,435,000 after acquiring an additional 478 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Liberty Broadband by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,838 shares of the company’s stock valued at $505,000 after acquiring an additional 540 shares in the last quarter. Finally, AMI Investment Management Inc. increased its stake in Liberty Broadband by 1.8% in the 4th quarter. AMI Investment Management Inc. now owns 33,738 shares of the company’s stock valued at $2,721,000 after buying an additional 584 shares during the last quarter. 10.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LBRDA shares. Citigroup lowered Liberty Broadband from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $67.00 to $57.00 in a report on Wednesday, July 3rd. Evercore ISI lowered their target price on Liberty Broadband from $106.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd.

Liberty Broadband Price Performance

LBRDA traded down $0.03 during trading on Wednesday, reaching $56.80. The stock had a trading volume of 5,897 shares, compared to its average volume of 146,032. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.12 and a beta of 1.03. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.41. Liberty Broadband has a 1-year low of $47.17 and a 1-year high of $95.61. The stock has a 50 day moving average of $52.75 and a two-hundred day moving average of $58.51.

Liberty Broadband (NASDAQ:LBRDA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($1.11). Liberty Broadband had a net margin of 87.75% and a return on equity of 9.55%. The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $248.46 million. As a group, equities analysts anticipate that Liberty Broadband will post 12.03 EPS for the current fiscal year.

About Liberty Broadband

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.