Liberty Broadband (NASDAQ:LBRDA) Lowered to Neutral Rating by Rosenblatt Securities

Rosenblatt Securities lowered shares of Liberty Broadband (NASDAQ:LBRDA) from a buy rating to a neutral rating in a research note released on Thursday morning, Marketbeat reports. They currently have $92.00 target price on the stock, up from their previous target price of $91.00.

Separately, Deutsche Bank Aktiengesellschaft lowered their price target on Liberty Broadband from $104.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 16th.

Liberty Broadband Price Performance

NASDAQ:LBRDA opened at $87.64 on Thursday. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 16.14 and a beta of 1.04. The company has a 50-day moving average of $77.82 and a 200-day moving average of $63.82. Liberty Broadband has a 52 week low of $47.17 and a 52 week high of $100.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The company had revenue of $262.00 million for the quarter, compared to analyst estimates of $242.40 million. During the same period in the previous year, the firm posted $1.10 earnings per share.

Insider Transactions at Liberty Broadband

In related news, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.84, for a total transaction of $167,454.72. Following the transaction, the chief accounting officer now owns 11,054 shares in the company, valued at $838,335.36. This represents a 16.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee L. Wilm sold 4,423 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total transaction of $338,624.88. Following the completion of the sale, the insider now owns 3,670 shares of the company’s stock, valued at $280,975.20. The trade was a 54.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.19% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

A number of large investors have recently modified their holdings of LBRDA. Long Focus Capital Management LLC boosted its holdings in Liberty Broadband by 61.9% in the second quarter. Long Focus Capital Management LLC now owns 370,100 shares of the company’s stock valued at $20,207,000 after acquiring an additional 141,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Liberty Broadband by 38.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company’s stock valued at $20,544,000 after purchasing an additional 104,268 shares during the last quarter. Private Management Group Inc. grew its position in shares of Liberty Broadband by 29.8% during the 2nd quarter. Private Management Group Inc. now owns 388,923 shares of the company’s stock worth $21,235,000 after buying an additional 89,317 shares during the period. Verition Fund Management LLC bought a new stake in shares of Liberty Broadband during the third quarter worth approximately $6,402,000. Finally, Cowen AND Company LLC acquired a new position in Liberty Broadband in the second quarter valued at approximately $4,445,000. 10.29% of the stock is currently owned by institutional investors and hedge funds.

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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.