Liberty Broadband (NASDAQ:LBRDA) Downgraded by Citigroup

Citigroup cut shares of Liberty Broadband (NASDAQ:LBRDA) from a buy rating to a neutral rating in a report issued on Wednesday, MarketBeat.com reports. They currently have $57.00 price target on the stock, down from their prior price target of $67.00.

Separately, Evercore ISI decreased their target price on shares of Liberty Broadband from $106.00 to $72.00 and set an outperform rating on the stock in a report on Tuesday.

Liberty Broadband Trading Down 0.8 %

Shares of NASDAQ:LBRDA opened at $54.22 on Wednesday. The business’s 50 day simple moving average is $52.15 and its 200 day simple moving average is $60.26. Liberty Broadband has a 1 year low of $47.17 and a 1 year high of $95.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market capitalization of $7.75 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.11 and a beta of 1.03.

Liberty Broadband (NASDAQ:LBRDA) last released its earnings results on Wednesday, May 8th. The company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($1.11). Liberty Broadband had a return on equity of 9.55% and a net margin of 87.75%. The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $248.46 million. On average, research analysts anticipate that Liberty Broadband will post 12.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director J David Wargo sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $51.98, for a total value of $779,700.00. Following the sale, the director now directly owns 72,332 shares of the company’s stock, valued at $3,759,817.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.19% of the company’s stock.

Institutional Trading of Liberty Broadband

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Liberty Broadband by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,570,076 shares of the company’s stock worth $126,611,000 after purchasing an additional 5,709 shares during the last quarter. Private Management Group Inc. boosted its position in Liberty Broadband by 212,386.5% during the 1st quarter. Private Management Group Inc. now owns 299,606 shares of the company’s stock worth $17,113,000 after buying an additional 299,465 shares during the period. Gavilan Investment Partners LLC grew its holdings in Liberty Broadband by 40.4% during the 4th quarter. Gavilan Investment Partners LLC now owns 227,500 shares of the company’s stock worth $18,346,000 after acquiring an additional 65,500 shares during the last quarter. Norges Bank acquired a new position in Liberty Broadband in the 4th quarter valued at approximately $17,239,000. Finally, Savoie Capital LLC bought a new position in shares of Liberty Broadband during the third quarter valued at $17,588,000. Institutional investors and hedge funds own 10.29% of the company’s stock.

About Liberty Broadband

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.