Liberty Broadband (NASDAQ:LBRDA) Sets New 1-Year Low – Here’s What Happened

Liberty Broadband Corporation (NASDAQ:LBRDA) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $49.53 and last traded at $50.5250, with a volume of 33840 shares changing hands. The stock had previously closed at $53.49.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Broadband in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.67.

Liberty Broadband Trading Down 5.7%

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 6.66 and a beta of 1.00. The company’s fifty day moving average price is $59.98 and its 200-day moving average price is $76.01.

Liberty Broadband (NASDAQ:LBRDA) last issued its earnings results on Thursday, August 7th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $1.31. Liberty Broadband had a return on equity of 10.89% and a net margin of 103.04%.The firm had revenue of $261.00 million for the quarter, compared to analyst estimates of $251.70 million.

Liberty Broadband Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.5%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LBRDA. Teacher Retirement System of Texas acquired a new position in Liberty Broadband in the 1st quarter valued at $376,000. Bank of New York Mellon Corp raised its stake in Liberty Broadband by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 51,500 shares of the company’s stock valued at $4,377,000 after purchasing an additional 251 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Liberty Broadband by 30.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 17,897 shares of the company’s stock valued at $1,521,000 after purchasing an additional 4,211 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in Liberty Broadband by 48.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 7,568 shares of the company’s stock valued at $643,000 after purchasing an additional 2,459 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in Liberty Broadband in the 1st quarter valued at $239,000. 10.29% of the stock is 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.