Short Interest in Liberty Broadband Corporation (NASDAQ:LBRDK) Increases By 68.0%

Liberty Broadband Corporation (NASDAQ:LBRDK) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 7,337,946 shares, an increase of 68.0% from the July 30th total of 4,367,337 shares. Approximately 5.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,601,713 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

LBRDK has been the subject of several research reports. Weiss Ratings downgraded Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Liberty Broadband from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Citigroup dropped their price target on shares of Liberty Broadband from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Liberty Broadband by 3.7% in the first quarter. AQR Capital Management LLC now owns 20,132 shares of the company’s stock worth $1,707,000 after buying an additional 717 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Liberty Broadband by 4.4% during the first quarter. Integrated Wealth Concepts LLC now owns 4,092 shares of the company’s stock worth $348,000 after buying an additional 174 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Liberty Broadband by 38.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,773 shares of the company’s stock worth $2,617,000 after buying an additional 8,521 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Liberty Broadband by 503.1% in the 1st quarter. Jones Financial Companies Lllp now owns 2,943 shares of the company’s stock worth $250,000 after acquiring an additional 2,455 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Liberty Broadband by 94.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 778,238 shares of the company’s stock worth $66,189,000 after acquiring an additional 377,602 shares during the last quarter. 80.22% of the stock is owned by institutional investors.

Liberty Broadband Stock Performance

Shares of Liberty Broadband stock remained flat at $36.02 on Monday. Liberty Broadband has a 12-month low of $26.25 and a 12-month high of $65.72. The firm has a market cap of $5.17 billion, a PE ratio of -5.15 and a beta of 0.64. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $33.22 and a 200-day moving average price of $40.78.

Liberty Broadband Company Profile

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.