Liberty Broadband Corporation (NASDAQ:LBRDK – Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $28.94 and last traded at $29.71, with a volume of 5806426 shares traded. The stock had previously closed at $30.40.
Wall Street Analysts Forecast Growth
LBRDK has been the topic of several recent research reports. Wall Street Zen raised Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.
View Our Latest Analysis on Liberty Broadband
Liberty Broadband Trading Down 2.3%
Hedge Funds Weigh In On Liberty Broadband
Institutional investors and hedge funds have recently modified their holdings of the business. Highlander Partners L.P. purchased a new position in shares of Liberty Broadband in the fourth quarter valued at approximately $26,000. Western Wealth Management LLC purchased a new stake in shares of Liberty Broadband during the first quarter worth approximately $28,000. eCIO Inc. acquired a new position in Liberty Broadband in the 4th quarter valued at $30,000. Essential Partners LLC lifted its holdings in Liberty Broadband by 153.9% in the 1st quarter. Essential Partners LLC now owns 678 shares of the company’s stock valued at $34,000 after purchasing an additional 411 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Liberty Broadband in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.
About Liberty Broadband
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.
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