Liberty Broadband (NASDAQ:LBRDA) Downgraded to “Neutral” at Citigroup

Liberty Broadband (NASDAQ:LBRDA – Get Free Report) was downgraded by Citigroup stock analysts from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. They currently have a price target for the stock of $57.00, down from the previous price target of $67.00. Citigroup’s price target indicates a potential upside of 4.30% from the company’s current price.

Separately, Evercore ISI lowered its price target on Liberty Broadband from $106.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday.

Read our latest analysis on LBRDA

Liberty Broadband shares up 1.4%

LBRDA stock opened at $54.65 on Wednesday. The stock has a market capitalization of $7.81 billion, a P/E ratio of 9.28, a PEG ratio of 0.11, and a beta of 1.03. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. Liberty Broadband has a twelve month low of $47.17 and a twelve month high of $95.61. The company’s 50 day moving average is $52.06 and a two hundred day moving average is $60.43.

Liberty Broadband (NASDAQ:LBRDA – Get Free Report) last released its earnings results on Wednesday, May 8. The company reported $1.69 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($1.11). The company had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $248.46 million. Liberty Broadband had a net margin of 87.75% and a return on equity of 9.55%. Research analysts expect Liberty Broadband to post earnings per share of $12.03 for the current fiscal year.

Liberty Broadband Internal Transactions

In other Liberty Broadband news, Director J David Wargo sold 15,000 shares of the company’s stock in a transaction dated Monday, April 8. The shares were sold at an average price of $51.98, for a total of $779,700.00. Following the transaction, the director now directly owns 72,332 shares of the company’s stock, valued at approximately $3,759,817.36. The transaction was disclosed in legal documents filed with the SEC, which are available on the SEC’s website. The insiders now own 14.19% of the company’s stock.

Institutional investors evaluate Liberty Broadband

Institutional investors recently bought and sold shares of the company. Citigroup Inc. increased its holdings in shares of Liberty Broadband by 14.2% in the 3rd quarter. Citigroup Inc. now owns 1,348 shares of the company’s stock worth $123,000 after purchasing an additional 168 shares during the period. Raymond James & Associates increased its holdings in Liberty Broadband by 4.7% in the 4th quarter. Raymond James & Associates now owns 6,739 shares of the company’s stock worth $543,000 after purchasing an additional 301 shares during the period. VisionPoint Advisory Group LLC increased its holdings in Liberty Broadband by 1.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 30,196 shares of the company’s stock worth $2,435,000 after purchasing an additional 478 shares during the period. Price T Rowe Associates Inc. MD increased its position in Liberty Broadband by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,838 shares of the company’s stock worth $505,000 after purchasing an additional 540 shares during the last quarter. Finally, AMI Investment Management Inc. increased its holdings in Liberty Broadband by 1.8% during the fourth quarter. AMI Investment Management Inc. now owns 33,738 shares of the company’s stock worth $2,721,000 after purchasing an additional 584 shares during the period. 10.29% of the stock is currently held by hedge funds and other institutional investors.

About Liberty Broadband

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Liberty Broadband Corporation is engaged in the communications business. The GCI Holdings segment of the company provides data, wireless, video, voice and managed services to residential, business, government, educational and medical institutions in Alaska under the GCI brand.

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