Liberty Broadband (NASDAQ:LBRDA) Shares Up 4.9% - What's Next?

Key Points

• Liberty Broadband shares rose 4.9% in midday trading to about $35.59, although trading volume was 85% below the stock’s average daily volume.
• Weiss Ratings downgraded the company from “sell (d)” to “sell (d-),” while the stock retains an overall “Sell” rating from the one analyst tracked by MarketBeat.
• Institutional investors have increased their holdings, but hedge funds and other institutions collectively own only 10.29% of the company. Liberty Broadband’s primary assets include its significant stake in Charter Communications and an interest in GCI Liberty.

Liberty Broadband Corporation (NASDAQ:LBRDA - Get Free Report) shares traded up 4.9% during mid-day trading on Tuesday . The stock traded as high as $35.52 and last traded at $35.5940. 30,058 shares changed hands during trading, a decline of 85% from the average daily volume of 196,112 shares. The stock had previously closed at $33.94.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Liberty Broadband from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Liberty Broadband Stock Up 3.9%

The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $32.48 and a two-hundred day simple moving average of $41.60. The company has a market cap of $5.06 billion, a PE ratio of -5.04 and a beta of 0.64.

Hedge Funds Weigh In On Liberty Broadband

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in Liberty Broadband by 114.2% during the first quarter. EverSource Wealth Advisors LLC now owns 602 shares of the company's stock worth $30,000 after acquiring an additional 321 shares during the last quarter. Comerica Bank raised its holdings in Liberty Broadband by 104.2% in the 4th quarter. Comerica Bank now owns 1,027 shares of the company's stock valued at $50,000 after acquiring an additional 524 shares during the last quarter. Franklin Resources Inc. lifted its stake in Liberty Broadband by 66.2% in the 2nd quarter. Franklin Resources Inc. now owns 615 shares of the company's stock worth $60,000 after purchasing an additional 245 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in Liberty Broadband by 22.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company's stock worth $66,000 after purchasing an additional 248 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Liberty Broadband by 388.4% during the 1st quarter. Parallel Advisors LLC now owns 2,154 shares of the company's stock worth $108,000 after purchasing an additional 1,713 shares during the last quarter. 10.29% of the stock is owned by hedge funds and other institutional investors.

About Liberty Broadband

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.

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