Liberty Broadband (NASDAQ:LBRDK) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Liberty Broadband Corporation (NASDAQ:LBRDK) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $32.38 and traded as low as $30.88. Liberty Broadband shares last traded at $31.34, with a volume of 1,475,189 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LBRDK shares. Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Liberty Broadband Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $4.50 billion, a PE ratio of -1.63 and a beta of 0.65. The company has a 50-day moving average price of $32.38 and a two-hundred day moving average price of $43.67.

Institutional Investors Weigh In On Liberty Broadband

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp lifted its stake in Liberty Broadband by 4,476.6% in the 4th quarter. M&T Bank Corp now owns 234,824 shares of the company’s stock worth $12,421,000 after purchasing an additional 229,693 shares in the last quarter. Banyan Capital Management Inc. bought a new position in Liberty Broadband in the 4th quarter valued at $3,366,000. Hudson Bay Capital Management LP grew its position in shares of Liberty Broadband by 32.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 165,000 shares of the company’s stock valued at $10,484,000 after purchasing an additional 40,000 shares in the last quarter. Elser Financial Planning Inc purchased a new position in shares of Liberty Broadband during the 4th quarter valued at $1,538,000. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Liberty Broadband in the third quarter worth $19,062,000. 80.22% of the stock is currently owned by institutional investors.

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.