Liberty Broadband Corp. (LBRDA) Reaches New 1-Year High at $66.48
Liberty Broadband Corp. (NASDAQ:LBRDA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $66.48 and last traded at $65.94, with a volume of 206,263 shares changing hands. The stock had previously closed at $62.02.
A number of brokerages have recently issued reports on LBRDA. Zacks Investment Research upgraded Liberty Broadband Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Wunderlich lifted their price target on Liberty Broadband Corp. from $70.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, June 22nd. Deutsche Bank AG reiterated a “buy” rating and issued a $76.00 price target on shares of Liberty Broadband Corp. in a report on Sunday, May 22nd. Finally, Pivotal Research lifted their price target on Liberty Broadband Corp. from $74.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, May 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Liberty Broadband Corp. currently has an average rating of “Buy” and an average price target of $72.80.
The firm has a 50-day moving average of $61.34 and a 200 day moving average of $56.56. The firm’s market cap is $6.74 billion.
In other Liberty Broadband Corp. news, Director John C. Malone sold 66,500 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $59.37, for a total transaction of $3,948,105.00. Following the transaction, the director now directly owns 4,175,054 shares in the company, valued at $247,872,955.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
An institutional investor recently raised its position in Liberty Broadband Corp. stock. Dimensional Fund Advisors LP increased its stake in shares of Liberty Broadband Corp. (NASDAQ:LBRDA) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 216,543 shares of the company’s stock after buying an additional 7,794 shares during the period. Dimensional Fund Advisors LP owned 0.21% of Liberty Broadband Corp. worth $11,184,000 at the end of the most recent reporting period.
Liberty Broadband Corporation holds interests in Charter Communications, Inc (Charter), TruePosition, Inc (TruePosition) and Time Warner Cable, Inc (TWC). The Company’s segments include Trueposition, Charter, and Corporate and other. The TruePosition segment includes the operations of TruePosition, a subsidiary of the Company that develops and markets technology for locating wireless phones and other wireless devices on a cellular network, enabling wireless carriers and government agencies to provide public safety E-9-1-1 services domestically and services in support of national security and law enforcement across the world.
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