Liberty Broadband Corp. (LBRDA) Shares Down 0.9%
Liberty Broadband Corp. (NASDAQ:LBRDA)’s share price dropped 0.9% during trading on Friday . The company traded as low as $69.72 and last traded at $69.88, with a volume of 156,018 shares traded. The stock had previously closed at $70.53.
LBRDA has been the topic of a number of analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $76.00 price objective on shares of Liberty Broadband Corp. in a research report on Sunday, May 22nd. Pivotal Research raised their target price on Liberty Broadband Corp. from $74.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, May 24th. Wunderlich raised their target price on Liberty Broadband Corp. from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research raised Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.60.
The firm’s 50 day moving average price is $65.03 and its 200 day moving average price is $58.96. The stock’s market capitalization is $7.27 billion.
In related news, Director John C. Malone sold 122,795 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $68.45, for a total value of $8,405,317.75. Following the sale, the director now owns 4,145,781 shares in the company, valued at approximately $283,778,709.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Albert E. Rosenthaler sold 1,907 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $67.39, for a total value of $128,512.73. Following the completion of the sale, the insider now owns 18,769 shares in the company, valued at approximately $1,264,842.91. The disclosure for this sale can be found here.
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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