Liberty Broadband (NASDAQ:LBRDK) Shares Gap Up – Time to Buy?

Liberty Broadband Corporation (NASDAQ:LBRDK)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $29.40, but opened at $31.03. Liberty Broadband shares last traded at $30.5480, with a volume of 40,164 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LBRDK shares. Weiss Ratings reissued a “sell (d)” rating on shares of Liberty Broadband in a research note on Friday, March 27th. Wall Street Zen raised Liberty Broadband from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. One equities 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 Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $4.44 billion, a P/E ratio of -1.61 and a beta of 0.66. The company’s 50 day moving average is $37.64 and its 200 day moving average is $45.65.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Glenmede Trust Co. NA boosted its holdings in shares of Liberty Broadband by 4.0% during the 1st quarter. Glenmede Trust Co. NA now owns 42,041 shares of the company’s stock valued at $2,115,000 after acquiring an additional 1,628 shares in the last quarter. Essential Partners LLC increased its holdings in Liberty Broadband by 153.9% in the 1st quarter. Essential Partners LLC now owns 678 shares of the company’s stock worth $34,000 after purchasing an additional 411 shares in the last quarter. Western Wealth Management LLC acquired a new position in Liberty Broadband in the 1st quarter worth about $28,000. Bank of America Corp DE raised its position in Liberty Broadband by 96.8% in the first quarter. Bank of America Corp DE now owns 512,174 shares of the company’s stock valued at $25,762,000 after purchasing an additional 251,927 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in Liberty Broadband in the first quarter valued at about $6,777,000. 80.22% of the stock is currently owned by 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.