Liberty Broadband (NASDAQ:LBRDK) Hits New 52-Week Low – Time to Sell?

Liberty Broadband Corporation (NASDAQ:LBRDK) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $29.58 and last traded at $29.6060, with a volume of 2319259 shares. The stock had previously closed at $30.87.

Wall Street Analysts Forecast Growth

LBRDK has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research report on Friday, March 27th. Wall Street Zen raised shares of Liberty Broadband from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Liberty Broadband Price Performance

The firm has a market cap of $4.25 billion, a PE ratio of -1.54 and a beta of 0.66. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $39.39 and a 200-day simple moving average of $46.11.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LBRDK. Glenmede Trust Co. NA grew its holdings in Liberty Broadband by 4.0% during the 1st quarter. Glenmede Trust Co. NA now owns 42,041 shares of the company’s stock valued at $2,115,000 after buying an additional 1,628 shares in the last quarter. Essential Partners LLC lifted its holdings in shares of Liberty Broadband by 153.9% in the first quarter. Essential Partners LLC now owns 678 shares of the company’s stock worth $34,000 after buying an additional 411 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Liberty Broadband during the first quarter worth $28,000. Bank of America Corp DE boosted its position in shares of Liberty Broadband by 96.8% during the first quarter. Bank of America Corp DE now owns 512,174 shares of the company’s stock worth $25,762,000 after acquiring an additional 251,927 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Liberty Broadband during the first quarter valued at $6,777,000. 80.22% of the stock is owned by hedge funds and other institutional investors.

About Liberty Broadband

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.