Liberty Broadband (NASDAQ:LBRDA) Shares Gap Up – Here’s Why

Shares of Liberty Broadband Co. (NASDAQ:LBRDA) gapped up prior to trading on Friday . The stock had previously closed at $73.96, but opened at $78.10. Liberty Broadband shares last traded at $77.98, with a volume of 25,006 shares.

Wall Street Analyst Weigh In

Several research firms have recently commented on LBRDA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 price target (up from $90.00) on shares of Liberty Broadband in a report on Friday, November 15th. Rosenblatt Securities downgraded Liberty Broadband from a “buy” rating to a “neutral” rating and boosted their target price for the company from $91.00 to $92.00 in a research note on Thursday, November 14th.

Liberty Broadband Stock Up 2.8 %

The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average price is $78.50 and its two-hundred day moving average price is $73.82. The firm has a market cap of $10.86 billion, a P/E ratio of 14.00 and a beta of 1.06.

Liberty Broadband (NASDAQ:LBRDA) last posted its earnings results on Thursday, November 7th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.66). The company had revenue of $262.00 million for the quarter, compared to the consensus estimate of $242.40 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter last year, the business earned $1.10 earnings per share.

Insider Buying and Selling at Liberty Broadband

In other news, CEO Gregory B. Maffei sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,435,256 shares in the company, valued at $114,447,313.44. The trade was a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 196,542 shares of company stock worth $15,834,108 over the last ninety days. Company insiders own 14.19% of the company’s stock.

Institutional Investors Weigh In On Liberty Broadband

Several hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new stake in Liberty Broadband in the 3rd quarter valued at $30,000. GAMMA Investing LLC increased its stake in Liberty Broadband by 161.8% in the third quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock valued at $48,000 after acquiring an additional 390 shares during the period. Paloma Partners Management Co acquired a new position in Liberty Broadband in the third quarter worth about $54,000. Glenmede Trust Co. NA lifted its stake in Liberty Broadband by 116.6% during the third quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock worth $76,000 after purchasing an additional 533 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Liberty Broadband during the third quarter valued at approximately $79,000. Institutional investors own 10.29% 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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.