Liberty Broadband (NASDAQ:LBRDK) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Liberty Broadband (NASDAQ:LBRDK) from a sell rating to a strong sell rating in a report released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Liberty Broadband currently has an average rating of “Sell”.

Liberty Broadband Stock Down 0.5%

Shares of LBRDK opened at $33.86 on Friday. The business’s fifty day moving average price is $31.80 and its two-hundred day moving average price is $42.25. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of -4.84 and a beta of 0.65. Liberty Broadband has a 52 week low of $26.25 and a 52 week high of $65.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.09 and a current ratio of 0.09.

Institutional Investors Weigh In On Liberty Broadband

A number of institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB lifted its holdings in Liberty Broadband by 12.6% in the second quarter. Handelsbanken Fonder AB now owns 42,011 shares of the company’s stock valued at $1,397,000 after buying an additional 4,700 shares during the period. Assenagon Asset Management S.A. grew its holdings in Liberty Broadband by 8.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,416,591 shares of the company’s stock worth $80,376,000 after acquiring an additional 189,394 shares during the period. Versant Capital Management Inc grew its holdings in Liberty Broadband by 315.9% during the 2nd quarter. Versant Capital Management Inc now owns 6,114 shares of the company’s stock worth $203,000 after acquiring an additional 4,644 shares during the period. Glenmede Trust Co. NA raised its position in shares of Liberty Broadband by 4.0% during the 1st quarter. Glenmede Trust Co. NA now owns 42,041 shares of the company’s stock valued at $2,115,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Essential Partners LLC raised its position in shares of Liberty Broadband by 153.9% during the 1st quarter. Essential Partners LLC now owns 678 shares of the company’s stock valued at $34,000 after acquiring an additional 411 shares during the last quarter. 80.22% of the stock is owned by 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.