Liberty Broadband (NASDAQ:LBRDA) Stock Passes Above 50-Day Moving Average – Here’s Why

by · The Cerbat Gem

Shares of Liberty Broadband Corporation (NASDAQ:LBRDAGet Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $47.82 and traded as high as $49.25. Liberty Broadband shares last traded at $48.91, with a volume of 168,438 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Liberty Broadband currently has an average rating of “Hold” and a consensus target price of $115.00.

Check Out Our Latest Analysis on LBRDA

Liberty Broadband Stock Up 0.3%

The business has a fifty day moving average price of $47.82 and a two-hundred day moving average price of $61.14. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.19. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 8.86 and a beta of 0.99.

Liberty Broadband (NASDAQ:LBRDAGet Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.57. Liberty Broadband had a net margin of 103.04% and a return on equity of 12.23%.

Insider Buying and Selling at Liberty Broadband

In other news, Director J David Wargo sold 2,889 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $47.10, for a total value of $136,071.90. Following the transaction, the director directly owned 31,542 shares of the company’s stock, valued at approximately $1,485,628.20. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 11.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC boosted its holdings in shares of Liberty Broadband by 364.1% during the 3rd quarter. Squarepoint Ops LLC now owns 322,751 shares of the company’s stock worth $20,440,000 after buying an additional 253,211 shares during the period. Norges Bank bought a new position in Liberty Broadband in the 2nd quarter worth $21,089,000. Alpine Global Management LLC lifted its position in Liberty Broadband by 973.0% during the 3rd quarter. Alpine Global Management LLC now owns 198,268 shares of the company’s stock worth $12,556,000 after acquiring an additional 179,790 shares during the last quarter. LMR Partners LLP bought a new stake in Liberty Broadband during the second quarter valued at about $16,904,000. Finally, Alliancebernstein L.P. grew its position in shares of Liberty Broadband by 3,768.1% in the third quarter. Alliancebernstein L.P. now owns 161,880 shares of the company’s stock valued at $10,252,000 after purchasing an additional 157,695 shares during the last quarter. Institutional investors own 10.29% of the company’s stock.

Liberty Broadband Company Profile

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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.

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