Pivotal Research Reiterates “Buy” Rating for Liberty Broadband Corporation (LBRDA)
Liberty Broadband Corporation (NASDAQ:LBRDA)‘s stock had its “buy” rating reissued by analysts at Pivotal Research in a report issued on Thursday. They currently have a $108.00 price objective on the stock, up from their previous price objective of $94.00. Pivotal Research’s price target suggests a potential upside of 27.25% from the company’s previous close.
A number of other equities analysts also recently commented on LBRDA. TheStreet downgraded shares of Liberty Broadband Corporation from a “b-” rating to a “c+” rating in a research note on Thursday, January 26th. Zacks Investment Research downgraded shares of Liberty Broadband Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 22nd. Finally, Macquarie upgraded shares of Liberty Broadband Corporation from a “neutral” rating to an “outperform” rating and set a $102.00 price objective for the company in a research note on Friday, January 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $83.50.
Liberty Broadband Corporation (NASDAQ:LBRDA) traded down 0.14% during midday trading on Thursday, reaching $84.87. The company’s stock had a trading volume of 136,110 shares. The firm has a 50 day moving average price of $79.50 and a 200-day moving average price of $70.94. The firm has a market cap of $15.42 billion, a P/E ratio of 13.40 and a beta of 1.51. Liberty Broadband Corporation has a 52 week low of $47.43 and a 52 week high of $87.47.
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In related news, Director John C. Malone sold 30,888 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $70.51, for a total value of $2,177,912.88. Following the completion of the sale, the director now directly owns 3,882,054 shares in the company, valued at approximately $273,723,627.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Malone sold 115,112 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $70.15, for a total transaction of $8,075,106.80. Following the completion of the sale, the director now owns 4,002,935 shares of the company’s stock, valued at $280,805,890.25. The disclosure for this sale can be found here. Insiders sold a total of 190,019 shares of company stock valued at $13,455,420 over the last quarter. 11.32% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Shufro Rose & Co. LLC bought a new position in Liberty Broadband Corporation during the third quarter valued at $211,000. Teacher Retirement System of Texas boosted its position in Liberty Broadband Corporation by 28.0% in the second quarter. Teacher Retirement System of Texas now owns 3,680 shares of the company’s stock valued at $219,000 after buying an additional 806 shares in the last quarter. BTG Pactual Global Asset Management Ltd bought a new position in Liberty Broadband Corporation during the third quarter valued at $223,000. Keybank National Association OH boosted its position in Liberty Broadband Corporation by 0.6% in the fourth quarter. Keybank National Association OH now owns 3,288 shares of the company’s stock valued at $238,000 after buying an additional 19 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Liberty Broadband Corporation by 8.2% in the third quarter. Aperio Group LLC now owns 4,186 shares of the company’s stock valued at $294,000 after buying an additional 317 shares in the last quarter. Institutional investors and hedge funds own 80.64% of the company’s stock.
About Liberty Broadband Corporation
Liberty Broadband Corporation holds interests in Charter Communications, Inc (Charter), TruePosition, Inc (TruePosition) and Time Warner Cable, Inc (TWC). The Company’s segments include Trueposition, Charter, and Corporate and other. The TruePosition segment includes the operations of TruePosition, a subsidiary of the Company that develops and markets technology for locating wireless phones and other wireless devices on a cellular network, enabling wireless carriers and government agencies to provide public safety E-9-1-1 services domestically and services in support of national security and law enforcement across the world.
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