Liberty Broadband (NASDAQ:LBRDA) Trading Up 4.9% – Time to Buy?

Liberty Broadband Corporation (NASDAQ:LBRDA) was up 4.9% during mid-day trading on Tuesday . The company traded as high as $35.52 and last traded at $35.5940. 30,058 shares were traded during trading, a decline of 85% from the average daily volume of 196,112 shares. The stock had previously closed at $33.94.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Liberty Broadband from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Liberty Broadband Stock Up 2.8%

The stock’s fifty day simple moving average is $32.63 and its 200-day simple moving average is $41.49. The stock has a market cap of $5.16 billion, a P/E ratio of -5.15 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.09 and a current ratio of 0.09.

Hedge Funds Weigh In On Liberty Broadband

A number of hedge funds have recently added to or reduced their stakes in LBRDA. Vanguard Group Inc. grew its holdings in shares of Liberty Broadband by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 1,679,806 shares of the company’s stock worth $81,101,000 after purchasing an additional 91,276 shares in the last quarter. Millennium Management LLC raised its stake in Liberty Broadband by 5.4% in the fourth quarter. Millennium Management LLC now owns 629,881 shares of the company’s stock valued at $30,411,000 after purchasing an additional 32,119 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Liberty Broadband by 2.4% during the third quarter. Dimensional Fund Advisors LP now owns 496,391 shares of the company’s stock worth $31,436,000 after purchasing an additional 11,789 shares during the period. Verition Fund Management LLC lifted its position in Liberty Broadband by 37.9% during the fourth quarter. Verition Fund Management LLC now owns 404,192 shares of the company’s stock worth $19,514,000 after purchasing an additional 111,105 shares during the period. Finally, Squarepoint Ops LLC grew its stake in Liberty Broadband by 21.9% during the fourth quarter. Squarepoint Ops LLC now owns 393,361 shares of the company’s stock worth $18,991,000 after buying an additional 70,610 shares in the last quarter. Institutional investors own 10.29% of the company’s stock.

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.