Liberty Broadband (NASDAQ:LBRDK) Stock Price Up 3.2% – Time to Buy?

Liberty Broadband Co. (NASDAQ:LBRDK)’s stock price rose 3.2% during mid-day trading on Wednesday . The company traded as high as $89.03 and last traded at $89.03. Approximately 327,172 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 991,943 shares. The stock had previously closed at $86.31.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Liberty Broadband in a research note on Friday, March 21st. They set a “sell” rating on the stock.

Liberty Broadband Trading Down 3.4 %

The firm has a market capitalization of $12.20 billion, a PE ratio of 15.68 and a beta of 1.06. The company’s fifty day simple moving average is $81.08 and its 200-day simple moving average is $79.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 2.07.

Liberty Broadband (NASDAQ:LBRDK) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($1.63). Liberty Broadband had a return on equity of 8.45% and a net margin of 78.07%. The firm had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.50 million. As a group, sell-side analysts expect that Liberty Broadband Co. will post 7.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Liberty Broadband

Several hedge funds and other institutional investors have recently modified their holdings of the business. Groupama Asset Managment purchased a new stake in shares of Liberty Broadband during the 3rd quarter valued at approximately $25,000. Quarry LP purchased a new stake in Liberty Broadband in the third quarter valued at $28,000. Smartleaf Asset Management LLC lifted its stake in shares of Liberty Broadband by 61.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the company’s stock valued at $30,000 after purchasing an additional 154 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Liberty Broadband by 134.3% during the 4th quarter. Blue Trust Inc. now owns 464 shares of the company’s stock worth $36,000 after purchasing an additional 266 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in Liberty Broadband by 138.0% in the 4th quarter. Jones Financial Companies Lllp now owns 488 shares of the company’s stock valued at $36,000 after buying an additional 283 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

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.