Shares of Liberty Broadband Corporation (NASDAQ:LBRDA – Get Free Report) fell 4.7% during trading on Wednesday . The stock traded as low as $35.37 and last traded at $35.3610. Approximately 6,714 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 197,387 shares. The stock had previously closed at $37.11.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings lowered shares of Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Liberty Broadband presently has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on LBRDA
Liberty Broadband Stock Down 4.8%
Liberty Broadband (NASDAQ:LBRDA – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.41 earnings per share for the quarter.
Institutional Investors Weigh In On Liberty Broadband
Several institutional investors have recently made changes to their positions in LBRDA. Vanguard Group Inc. increased its holdings in shares of Liberty Broadband by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 1,679,806 shares of the company’s stock valued at $81,101,000 after purchasing an additional 91,276 shares in the last quarter. Millennium Management LLC grew its position in Liberty Broadband by 5.4% during the fourth quarter. Millennium Management LLC now owns 629,881 shares of the company’s stock worth $30,411,000 after buying an additional 32,119 shares during the period. Dimensional Fund Advisors LP grew its position in Liberty Broadband by 2.4% during the third quarter. Dimensional Fund Advisors LP now owns 496,391 shares of the company’s stock worth $31,436,000 after buying an additional 11,789 shares during the period. Verition Fund Management LLC increased its holdings in Liberty Broadband by 37.9% in the fourth quarter. Verition Fund Management LLC now owns 404,192 shares of the company’s stock valued at $19,514,000 after buying an additional 111,105 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Liberty Broadband by 21.9% in the fourth quarter. Squarepoint Ops LLC now owns 393,361 shares of the company’s stock valued at $18,991,000 after buying an additional 70,610 shares in the last quarter. 10.29% of the stock is currently owned by hedge funds and other institutional investors.
About Liberty Broadband
Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.
In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.
Recommended Stories
- Five stocks we like better than Liberty Broadband
- Legacy Jet Builders Stall While Embraer Accelerates to New Highs
- Intel’s Rally Gave It a $20 Billion Opportunity and Now Comes the Hard Part
- Visa’s AI Opportunity Is Hiding in Every Transaction
- On Holding’s Price Stumble May Be an Opening for a Company Built to Run
Receive News & Ratings for Liberty Broadband Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liberty Broadband and related companies with MarketBeat.com's FREE daily email newsletter.
