Liberty Broadband Co. (NASDAQ:LBRDK) Sees Significant Growth in Short Interest

Liberty Broadband Co. (NASDAQ:LBRDK) experienced a notable rise in short interest during February. As of February 28th, the total short interest amounted to 4,120,000 shares, marking a substantial increase of 46.6% from the 2,810,000 shares reported on February 13th. Currently, approximately 3.6% of the company's shares are sold short. With an average daily trading volume of 901,400 shares, the days-to-cover ratio stands at 4.6 days.

Liberty Broadband Stock Performance

During midday trading on a recent Friday, shares of NASDAQ:LBRDK increased by 2.9%, rising $2.29 to reach $81.38. A total of 548,227 shares changed hands, compared to the average volume of 869,394. Over the past 12 months, Liberty Broadband's stock has seen a low of $46.46 and a high of $101.50. The company currently holds a market capitalization of $11.66 billion, a price-to-earnings (P/E) ratio of 14.99, and a beta value of 1.06. Additionally, it has a debt-to-equity ratio of 0.40 and both a current and quick ratio of 2.07. The stock's 50-day moving average is $79.45, while its 200-day moving average is $78.63.

Recent Earnings Report

Liberty Broadband released its quarterly earnings data on February 27th, revealing an earnings per share (EPS) of $2.04 for the quarter, which fell short of analysts' consensus estimates of $3.67 by $1.63. The company reported revenues of $253 million, slightly above the consensus estimate of $252.50 million. Liberty Broadband achieved a return on equity of 8.45% and a net margin of 78.07%. Analysts predict the company will have an EPS of 7.71 for the current fiscal year.

Insider Trading Activity

In recent insider trading news, CEO Gregory B. Maffei sold 71,500 shares of his stock on December 16th. The shares were sold at an average price of $82.00, resulting in a transaction value of approximately $5,863,000. Following this sale, Maffei directly owns 2,827,013 shares, valued at around $231,815,066, reflecting a decrease of 2.47% in his position. This transaction was disclosed in a filing with the SEC. Insiders now hold 10.80% of Liberty Broadband's stock.

Hedge Fund Activity

Recent activity from hedge funds reveals various adjustments in their positions regarding Liberty Broadband. As of the fourth quarter, Vanguard Group Inc. increased its holdings by 0.9%, owning 11,064,423 shares worth $827,176,000 after acquiring an additional 95,599 shares. Barclays PLC raised its position by 6.4% during the third quarter, now owning 6,899,331 shares valued at $533,251,000 after buying an extra 415,496 shares. Assenagon Asset Management grew its stake by 23.7% in the fourth quarter, reaching 3,585,407 shares valued at $268,045,000 after purchasing 686,089 shares. Deutsche Bank AG increased its holdings by a remarkable 125.6%, now owning 3,060,143 shares worth $228,776,000 after acquiring 1,703,637 shares. Finepoint Capital LP also increased its stake by 1.1%, acquiring an additional 21,200 shares. Overall, hedge funds and institutional investors own 80.22% of Liberty Broadband's stock.

Analyst Opinions

In a separate note, StockNews.com has initiated coverage on Liberty Broadband, assigning a "sell" rating to the stock.

Company Overview

Liberty Broadband Corporation is engaged in the communications sector. Its GCI Holdings segment offers data, wireless, video, voice, and managed services to a variety of customers, including residential users, businesses, governmental bodies, educational institutions, and medical facilities in Alaska under the GCI brand.

Liberty, Broadband, Stocks