Liberty Broadband Corp Series C (NASDAQ:LBRDK) Short Interest Up 15.1% in August

Liberty Broadband Corp Series C (NASDAQ:LBRDK) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 4,720,000 shares, an increase of 15.1% from the July 31st total of 4,100,000 shares. Currently, 3.2% of the company’s shares are sold short. Based on an average trading volume of 508,200 shares, the days-to-cover ratio is currently 9.3 days.

Shares of NASDAQ LBRDK opened at $108.62 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.05. Liberty Broadband Corp Series C has a 52 week low of $68.47 and a 52 week high of $109.72. The firm’s fifty day moving average is $102.29 and its 200 day moving average is $99.11. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 285.84 and a beta of 1.26.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Liberty Broadband Corp Series C by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 852,176 shares of the company’s stock valued at $61,384,000 after purchasing an additional 53,173 shares during the period. Geode Capital Management LLC increased its position in Liberty Broadband Corp Series C by 9.5% during the 4th quarter. Geode Capital Management LLC now owns 1,417,821 shares of the company’s stock valued at $102,072,000 after purchasing an additional 123,037 shares during the period. SG Americas Securities LLC increased its position in Liberty Broadband Corp Series C by 245.2% during the 1st quarter. SG Americas Securities LLC now owns 5,071 shares of the company’s stock valued at $465,000 after purchasing an additional 3,602 shares during the period. State Board of Administration of Florida Retirement System increased its position in Liberty Broadband Corp Series C by 10.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 121,628 shares of the company’s stock valued at $11,158,000 after purchasing an additional 11,202 shares during the period. Finally, Stephens Inc. AR purchased a new position in Liberty Broadband Corp Series C during the 1st quarter valued at $218,000. 56.02% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently weighed in on LBRDK shares. BidaskClub upgraded shares of Liberty Broadband Corp Series C from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Zacks Investment Research downgraded shares of Liberty Broadband Corp Series C from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. TD Securities raised shares of Liberty Broadband Corp Series C from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Friday, August 9th. Morgan Stanley lifted their target price on shares of Liberty Broadband Corp Series C from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. Finally, ValuEngine downgraded shares of Liberty Broadband Corp Series C from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $117.33.

About Liberty Broadband Corp Series C

Liberty Broadband Corporation, a cable operator, provides video, Internet, and voice services to residential, and small and medium business customers in the United States. The company operates through Skyhook and Charter segments. The Skyhook segment offers Precision Location Solution, a location determination service for mobile device makers, wireless carriers, and asset tracking platforms to understand the precise geographic location and movement of mobile devices, as well as for enhancing the location determination capabilities of a hybrid location system.

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