Liberty Broadband (NASDAQ:LBRDA) Shares Gap Up – Time to Buy?

Liberty Broadband Corporation (NASDAQ:LBRDA)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $44.55, but opened at $47.64. Liberty Broadband shares last traded at $48.0730, with a volume of 27,749 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $115.00.

Liberty Broadband Stock Up 10.9%

The business has a 50-day simple moving average of $46.80 and a two-hundred day simple moving average of $56.27. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 8.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.24 and a current ratio of 0.24.

Liberty Broadband (NASDAQ:LBRDA) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.77 EPS 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 103.04%.

Insider Activity at Liberty Broadband

In other news, Director J David Wargo sold 2,889 shares of Liberty Broadband stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $47.10, for a total value of $136,071.90. Following the sale, the director owned 31,542 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quent Capital LLC purchased a new position in Liberty Broadband in the third quarter valued at about $36,000. Comerica Bank raised its holdings in Liberty Broadband by 104.2% during the fourth quarter. Comerica Bank now owns 1,027 shares of the company’s stock worth $50,000 after purchasing an additional 524 shares during the last quarter. Franklin Resources Inc. boosted its position in Liberty Broadband by 66.2% during the second quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock worth $60,000 after purchasing an additional 245 shares in the last quarter. GAMMA Investing LLC grew its holdings in Liberty Broadband by 21.2% in the second quarter. GAMMA Investing LLC now owns 698 shares of the company’s stock valued at $68,000 after purchasing an additional 122 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Liberty Broadband in the third quarter valued at $144,000. 10.29% of the stock is owned by institutional investors and hedge funds.

About Liberty Broadband

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.