Liberty Broadband (NASDAQ:LBRDK) Sees Strong Trading Volume - Time to Buy?

Key Points

• Liberty Broadband experienced strong trading volume of 1,807,550 shares, a 58% increase from the previous session, with the stock currently priced at $64.49.
• Wall Street Zen has updated Liberty Broadband's rating to a "hold" as of July 12th, indicating a cautious outlook on the stock.
• Institutional investors now own approximately 80.22% of Liberty Broadband's stock, reflecting significant interest from larger financial entities.

Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report) shares saw strong trading volume on Wednesday . 1,807,550 shares were traded during trading, an increase of 58% from the previous session's volume of 1,142,618 shares.The stock last traded at $64.49 and had previously closed at $63.73.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Liberty Broadband to a "hold" rating in a research note on Saturday, July 12th.

Liberty Broadband Trading Down 2.0%

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The business's fifty day simple moving average is $90.30 and its two-hundred day simple moving average is $85.79. The stock has a market capitalization of $8.62 billion, a P/E ratio of 9.60 and a beta of 0.96.

Liberty Broadband (NASDAQ:LBRDK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $256.00 million during the quarter. Liberty Broadband had a net margin of 88.10% and a return on equity of 9.24%. As a group, analysts forecast that Liberty Broadband Corporation will post 7.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in Liberty Broadband by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 158,592 shares of the company's stock worth $15,602,000 after acquiring an additional 3,501 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Liberty Broadband by 4.4% in the second quarter. Resonant Capital Advisors LLC now owns 4,382 shares of the company's stock valued at $431,000 after purchasing an additional 185 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Liberty Broadband by 1.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 42,938 shares of the company's stock valued at $4,224,000 after purchasing an additional 751 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of Liberty Broadband in the second quarter valued at $234,000. Finally, Forum Financial Management LP increased its holdings in shares of Liberty Broadband by 31.5% in the second quarter. Forum Financial Management LP now owns 4,839 shares of the company's stock valued at $476,000 after purchasing an additional 1,159 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company's stock.

About Liberty Broadband

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.