Liberty Broadband (NASDAQ:LBRDK) Trading 4.8% Higher – Here’s Why

Shares of Liberty Broadband Corporation (NASDAQ:LBRDK) rose 4.8% during mid-day trading on Tuesday . The company traded as high as $35.41 and last traded at $35.58. 423,517 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,638,844 shares. The stock had previously closed at $33.96.

Analyst Ratings Changes

Several research firms have commented on LBRDK. Wall Street Zen cut shares of Liberty Broadband from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Weiss Ratings lowered Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Finally, Citigroup decreased their price target on Liberty Broadband from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.00.

Liberty Broadband Stock Up 3.8%

The stock’s fifty day moving average is $32.51 and its two-hundred day moving average is $41.66. 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 company has a market capitalization of $5.06 billion, a PE ratio of -5.04 and a beta of 0.64.

Institutional Trading of Liberty Broadband

Several hedge funds have recently added to or reduced their stakes in the stock. Highlander Partners L.P. bought a new position in shares of Liberty Broadband during the 4th quarter valued at approximately $26,000. Western Wealth Management LLC bought a new stake in shares of Liberty Broadband in the 1st quarter worth approximately $28,000. Essential Partners LLC lifted its stake in Liberty Broadband by 153.9% in the first quarter. Essential Partners LLC now owns 678 shares of the company’s stock valued at $34,000 after purchasing an additional 411 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Liberty Broadband during the third quarter valued at $42,000. Finally, Rothschild Investment LLC increased its position in Liberty Broadband by 7,253.8% in the fourth quarter. Rothschild Investment LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 943 shares during the last quarter. Institutional investors own 80.22% of the company’s stock.

Liberty Broadband Company Profile

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.