Liberty Broadband (NASDAQ:LBRDK) Sees Large Volume Increase - Still a 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.

Shares of Liberty Broadband Corporation (NASDAQ:LBRDK - Get Free Report) saw an uptick in trading volume on Wednesday . 1,807,550 shares traded hands 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 Liberty Broadband to a "hold" rating in a research report on Saturday, July 12th.

Liberty Broadband Trading Down 1.7%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.39. The firm's fifty day simple moving average is $91.02 and its 200-day simple moving average is $85.83. The stock has a market cap of $8.64 billion, a P/E ratio of 9.63 and a beta of 1.01.

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 (EPS) for the quarter. Liberty Broadband had a return on equity of 9.24% and a net margin of 88.10%. The firm had revenue of $256.00 million for the quarter. Equities research analysts expect that Liberty Broadband Corporation will post 7.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Liberty Broadband

A number of institutional investors have recently modified their holdings of LBRDK. SouthState Corp acquired a new position in shares of Liberty Broadband during the first quarter worth approximately $25,000. Vestor Capital LLC acquired a new position in shares of Liberty Broadband during the first quarter worth approximately $44,000. Fortitude Family Office LLC acquired a new position in shares of Liberty Broadband during the second quarter worth approximately $48,000. Continuum Advisory LLC purchased a new stake in Liberty Broadband in the 1st quarter valued at $58,000. Finally, GAMMA Investing LLC raised its position in Liberty Broadband by 39.2% in the 2nd quarter. GAMMA Investing LLC now owns 589 shares of the company's stock valued at $58,000 after buying an additional 166 shares during the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.

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.