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

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

Separately, Evercore ISI decreased their price target on Liberty Broadband from $106.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday.

Liberty Broadband Stock Up 1.4 %

LBRDA stock opened at $54.65 on Wednesday. The stock has a market cap 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 its two-hundred day moving average is $60.43.

Liberty Broadband (NASDAQ:LBRDA) last posted its earnings results on Wednesday, May 8th. The company reported $1.69 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($1.11). The firm had revenue of $245.00 million during 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 that Liberty Broadband will post 12.03 earnings per share for the current fiscal year.

Insider Transactions at Liberty Broadband

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

Institutional Investors Weigh In On Liberty Broadband

Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised 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 raised its holdings in Liberty Broadband by 4.7% in the fourth quarter. Raymond James & Associates now owns 6,739 shares of the company’s stock valued at $543,000 after buying an additional 301 shares during the period. VisionPoint Advisory Group LLC raised its holdings in Liberty Broadband by 1.6% in the fourth quarter. VisionPoint Advisory Group LLC now owns 30,196 shares of the company’s stock valued at $2,435,000 after buying an additional 478 shares during the period. Price T Rowe Associates Inc. MD lifted 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 valued at $505,000 after buying an additional 540 shares in the last quarter. Finally, AMI Investment Management Inc. grew its stake 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 buying an additional 584 shares during the period. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

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.