Liberty Broadband Co. (NASDAQ:LBRDK) Sees Significant Decline in Short Interest

Liberty Broadband Co. (NASDAQ:LBRDK) was the recipient of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 2,810,000 shares, a decrease of 23.0% from the January 31st total of 3,650,000 shares. Based on an average trading volume of 883,700 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.5% of the company’s shares are sold short.

Insider Buying and Selling at Liberty Broadband

In other news, CEO Gregory B. Maffei sold 71,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.00, for a total value of $5,863,000.00. Following the sale, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at approximately $231,815,066. This represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

Several hedge funds have recently bought and sold shares of LBRDK. Barclays PLC lifted its holdings in shares of Liberty Broadband by 6.4% in the 3rd quarter. Barclays PLC now owns 6,899,331 shares of the company’s stock worth $533,251,000 after acquiring an additional 415,496 shares during the last quarter. ABC Arbitrage SA bought a new position in Liberty Broadband in the 4th quarter worth $563,000. Point72 Asset Management L.P. raised its holdings in Liberty Broadband by 54.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 294,641 shares of the company’s stock worth $22,773,000 after purchasing an additional 104,272 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Liberty Broadband by 9,029.0% in the 3rd quarter. International Assets Investment Management LLC now owns 12,598 shares of the company’s stock worth $974,000 after buying an additional 12,460 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in shares of Liberty Broadband in the 4th quarter worth about $229,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Liberty Broadband Stock Up 2.5 %

LBRDK opened at $84.33 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07. The company’s 50-day moving average is $78.11 and its 200 day moving average is $77.40. Liberty Broadband has a fifty-two week low of $46.46 and a fifty-two week high of $101.50. The firm has a market capitalization of $12.05 billion, a P/E ratio of 15.53 and a beta of 1.04.

Liberty Broadband (NASDAQ:LBRDK) last posted its earnings results on Thursday, February 27th. The company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($1.63). The business had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.50 million. Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. Research analysts expect that Liberty Broadband will post 7.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Liberty Broadband in a research note on Tuesday, February 25th. They set a “sell” rating on the stock.

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.