Liberty Broadband (NASDAQ:LBRDK) Shares Gap Up – Here’s What Happened

by · The Cerbat Gem

Liberty Broadband Corporation (NASDAQ:LBRDK – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $44.58, but opened at $47.07. Liberty Broadband shares last traded at $48.1280, with a volume of 450,944 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LBRDK shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a report on Monday, December 29th. Wall Street Zen downgraded Liberty Broadband from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Get Our Latest Stock Report on LBRDK

Liberty Broadband Stock Performance

The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $46.96 and a 200-day moving average price of $56.50. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 8.96 and a beta of 0.99.

Liberty Broadband (NASDAQ:LBRDK – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.57. Liberty Broadband had a return on equity of 12.23% and a net margin of 105.04%.The firm had revenue of $257.00 million during the quarter, compared to the consensus estimate of $267.70 million. On average, analysts expect that Liberty Broadband Corporation will post 7.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Liberty Broadband

In other news, Director J David Wargo sold 2,889 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $47.10, for a total transaction of $136,071.90. Following the transaction, the director directly owned 31,542 shares in the company, valued at $1,485,628.20. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Liberty Broadband

A number of institutional investors have recently added to or reduced their stakes in the business. eCIO Inc. purchased a new position in shares of Liberty Broadband during the 4th quarter worth approximately $30,000. Parkside Financial Bank & Trust grew its holdings in Liberty Broadband by 195.1% during the second quarter. Parkside Financial Bank & Trust now owns 360 shares of the company’s stock worth $35,000 after acquiring an additional 238 shares during the period. Assetmark Inc. grew its holdings in Liberty Broadband by 1,054.1% during the second quarter. Assetmark Inc. now owns 427 shares of the company’s stock worth $42,000 after acquiring an additional 390 shares during the period. Johnson Financial Group Inc. purchased a new position in Liberty Broadband in the third quarter worth $42,000. Finally, Mather Group LLC. acquired a new stake in Liberty Broadband in the third quarter valued at $47,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

About Liberty Broadband

(Get Free Report)

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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