Liberty Broadband (NASDAQ:LBRDK) Shares Up 4.8% - Here's Why

Key Points

• Liberty Broadband shares rose 4.8% to approximately $35.58 in mid-day trading, although trading volume was 74% below the stock’s average daily volume.
• Analyst sentiment remains mixed: Citigroup maintained a “Buy” rating but cut its price target from $54 to $42, while other rating services downgraded the stock. The consensus rating is “Hold” with an average target price of $42.
• Institutional investors own a substantial 80.22% of Liberty Broadband, whose primary asset is a significant equity interest in Charter Communications.

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

Analyst Ratings Changes

LBRDK has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of Liberty Broadband from $54.00 to $42.00 and set a "buy" rating for the company in a research note on Friday. 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Liberty Broadband has a consensus rating of "Hold" and an average target price of $42.00.

Liberty Broadband Stock Up 3.8%

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a fifty day moving average price of $32.51 and a two-hundred day moving average price of $41.66. The company has a market cap of $5.06 billion, a P/E ratio of -5.04 and a beta of 0.64.

Institutional Investors Weigh In On Liberty Broadband

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC boosted its holdings in Liberty Broadband by 4.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,092 shares of the company's stock worth $348,000 after acquiring an additional 174 shares during the last quarter. Mariner LLC grew its stake in shares of 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 holdings in shares of Liberty Broadband by 3.9% in the first quarter. Fiduciary Alliance LLC now owns 6,211 shares of the company's stock valued at $319,000 after purchasing an additional 236 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Liberty Broadband by 4.6% in 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 during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Liberty Broadband by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 35,369 shares of the company's stock valued at $2,247,000 after purchasing an additional 239 shares in the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

About Liberty Broadband

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.

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