Short Interest in Liberty Broadband Corporation (NASDAQ:LBRDK) Decreases By 17.5%

Liberty Broadband Corporation (NASDAQ:LBRDK) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 3,736,572 shares, a decline of 17.5% from the March 31st total of 4,527,602 shares. Based on an average daily volume of 803,047 shares, the days-to-cover ratio is currently 4.7 days. Currently, 2.9% of the shares of the stock are short sold.

Liberty Broadband Trading Up 4.2%

LBRDK traded up $1.61 during midday trading on Friday, hitting $40.10. The company’s stock had a trading volume of 2,247,304 shares, compared to its average volume of 2,072,733. The company has a current ratio of 1.09, a quick ratio of 0.10 and a debt-to-equity ratio of 0.27. The firm has a market cap of $5.75 billion, a P/E ratio of -2.09 and a beta of 0.70. The firm has a 50-day moving average price of $51.05 and a two-hundred day moving average price of $50.32. Liberty Broadband has a 52-week low of $36.60 and a 52-week high of $104.00.

Insiders Place Their Bets

In related news, Director J David Wargo sold 44,450 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $57.30, for a total value of $2,546,985.00. Following the completion of the transaction, the director owned 19,150 shares of the company’s stock, valued at approximately $1,097,295. The trade was a 69.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.80% of the company’s stock.

Institutional Trading of Liberty Broadband

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBRDK. Highlander Partners L.P. purchased a new stake in Liberty Broadband in the 4th quarter valued at about $26,000. eCIO Inc. purchased a new stake in Liberty Broadband in the 4th quarter valued at about $30,000. Johnson Financial Group Inc. purchased a new stake in Liberty Broadband in the 3rd quarter valued at about $42,000. Rothschild Investment LLC grew its holdings in Liberty Broadband by 7,253.8% in the 4th quarter. Rothschild Investment LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 943 shares during the period. Finally, Mather Group LLC. purchased a new stake in Liberty Broadband in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Liberty Broadband has a consensus rating of “Sell”.

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.