Liberty Broadband Corporation (NASDAQ:LBRDK) Short Interest Up 68.0% in August

Liberty Broadband Corporation (NASDAQ:LBRDK) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 7,337,946 shares, an increase of 68.0% from the July 30th total of 4,367,337 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average daily volume of 1,601,713 shares, the short-interest ratio is presently 4.6 days.

Liberty Broadband Price Performance

Shares of LBRDK stock remained flat at $36.02 on Monday. The company has a market cap of $5.17 billion, a P/E ratio of -5.15 and a beta of 0.64. The company has a 50 day moving average of $33.22 and a two-hundred day moving average of $40.78. Liberty Broadband has a twelve month low of $26.25 and a twelve month high of $65.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.09 and a quick ratio of 0.09.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LBRDK shares. Citigroup dropped their target price on shares of Liberty Broadband from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Weiss Ratings lowered shares of Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Finally, Wall Street Zen lowered Liberty Broadband from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Liberty Broadband presently has an average rating of “Hold” and a consensus target price of $42.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. HBK Investments L P boosted its holdings in Liberty Broadband by 4.1% during the 4th quarter. HBK Investments L P now owns 5,908,691 shares of the company’s stock valued at $287,162,000 after acquiring an additional 233,691 shares during the period. California State Teachers Retirement System lifted its position in Liberty Broadband by 3,136.3% in the second quarter. California State Teachers Retirement System now owns 4,491,963 shares of the company’s stock valued at $149,403,000 after purchasing an additional 4,353,163 shares during the last quarter. Norges Bank bought a new stake in Liberty Broadband in the fourth quarter valued at approximately $180,881,000. Millennium Management LLC boosted its stake in shares of Liberty Broadband by 23.7% during the fourth quarter. Millennium Management LLC now owns 2,533,736 shares of the company’s stock valued at $123,140,000 after purchasing an additional 485,301 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Liberty Broadband by 8.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,416,591 shares of the company’s stock worth $80,376,000 after purchasing an additional 189,394 shares during the last quarter. 80.22% of the stock is 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.