Liberty Broadband (NASDAQ:LBRDK) Trading Up 4.8% – Here’s Why

Liberty Broadband Corporation (NASDAQ:LBRDK) shares traded up 4.8% during trading on Tuesday . The stock traded as high as $35.41 and last traded at $35.58. 423,517 shares traded hands during trading, a decline of 74% from the average session volume of 1,638,844 shares. The stock had previously closed at $33.96.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup lowered their price target on Liberty Broadband from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings lowered shares of Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of Liberty Broadband from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.00.

Liberty Broadband Stock Performance

The business’s fifty day moving average is $32.65 and its 200-day moving average is $41.54. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.17 billion, a PE ratio of -5.15 and a beta of 0.64.

Institutional Trading of Liberty Broadband

Hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its stake in shares of Liberty Broadband by 4.4% in the first quarter. Integrated Wealth Concepts LLC now owns 4,092 shares of the company’s stock worth $348,000 after buying an additional 174 shares during the period. Mariner LLC increased its holdings in Liberty Broadband by 3.4% in the 3rd quarter. Mariner LLC now owns 6,958 shares of the company’s stock worth $442,000 after acquiring an additional 226 shares in the last quarter. Fiduciary Alliance LLC raised its stake in Liberty Broadband by 3.9% during the 1st quarter. Fiduciary Alliance LLC now owns 6,211 shares of the company’s stock worth $319,000 after acquiring an additional 236 shares during the period. Captrust Financial Advisors lifted its holdings in Liberty Broadband by 4.6% during the second quarter. Captrust Financial Advisors now owns 5,376 shares of the company’s stock valued at $529,000 after purchasing an additional 237 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Liberty Broadband by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 35,369 shares of the company’s stock worth $2,247,000 after purchasing an additional 239 shares during the period. Institutional investors own 80.22% of the company’s stock.

Liberty Broadband Company Profile

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.