Liberty Broadband (NASDAQ:LBRDA) Shares Pass Above 50 Day Moving Average - Here's What Happened

Key Points

• Liberty Broadband's shares climbed above the 50-day moving average of $50.66, trading as high as $51.47 and last at $50.92 on volume of about 126,463 shares.
• Analyst sentiment is mixed: Weiss Ratings reiterated a “sell (d)”, MarketBeat shows one Buy and one Sell for an average rating of Hold and a consensus price target of $115.00.
• Insider activity and fundamentals are notable — Director J. David Wargo sold 2,232 shares (an ~82.6% cut in his stake), while the company reports a negative P/E (-2.72) and very low current and quick ratios (0.10).

Liberty Broadband Corporation (NASDAQ:LBRDA - Get Free Report)'s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $50.66 and traded as high as $51.47. Liberty Broadband shares last traded at $50.92, with a volume of 126,463 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Liberty Broadband in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Liberty Broadband presently has an average rating of "Hold" and a consensus price target of $115.00.

Liberty Broadband Stock Performance

The firm's 50 day moving average price is $50.66 and its two-hundred day moving average price is $52.16. The firm has a market cap of $7.31 billion, a PE ratio of -2.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.10 and a current ratio of 0.10.

Insider Transactions at Liberty Broadband

In other Liberty Broadband news, Director J David Wargo sold 2,232 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $57.61, for a total transaction of $128,585.52. Following the completion of the sale, the director owned 471 shares of the company's stock, valued at $27,134.31. This trade represents a 82.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Liberty Broadband

Several large investors have recently modified their holdings of LBRDA. Quent Capital LLC acquired a new stake in shares of Liberty Broadband during the 3rd quarter worth about $36,000. Franklin Resources Inc. raised its holdings in Liberty Broadband by 66.2% in the 2nd quarter. Franklin Resources Inc. now owns 615 shares of the company's stock valued at $60,000 after buying an additional 245 shares during the period. Comerica Bank lifted its position in Liberty Broadband by 104.2% in the fourth quarter. Comerica Bank now owns 1,027 shares of the company's stock valued at $50,000 after buying an additional 524 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in Liberty Broadband by 22.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company's stock worth $66,000 after buying an additional 248 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Liberty Broadband by 62.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 2,245 shares of the company's stock worth $220,000 after buying an additional 862 shares during the period. Institutional investors and hedge funds own 10.29% of the company's stock.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter's Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.