Liberty Broadband Corp. (NASDAQ:LBRDA) Given Average Rating of “Buy” by Brokerages
Shares of Liberty Broadband Corp. (NASDAQ:LBRDA) have been assigned an average rating of “Buy” from the six brokerages that are presently covering the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $77.00.
LBRDA has been the topic of several recent research reports. Zacks Investment Research upgraded Liberty Broadband Corp. from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, July 13th. Wunderlich boosted their target price on Liberty Broadband Corp. from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, June 22nd. Deutsche Bank AG upped their price target on Liberty Broadband Corp. from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Finally, Pivotal Research restated a “buy” rating and issued a $94.00 price target on shares of Liberty Broadband Corp. in a report on Monday, September 26th.
In related news, insider Albert E. Rosenthaler sold 1,907 shares of the stock in a transaction 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 directly owns 18,769 shares in the company, valued at approximately $1,264,842.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Malone sold 122,795 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $68.45, for a total value of $8,405,317.75. Following the completion of the sale, the director now owns 4,145,781 shares of the company’s stock, valued at $283,778,709.45. The disclosure for this sale can be found here. Company insiders own 11.32% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Douglass Winthrop Advisors LLC bought a new position in shares of Liberty Broadband Corp. during the second quarter valued at approximately $2,309,000. First Republic Investment Management Inc. boosted its position in shares of Liberty Broadband Corp. by 104.4% in the first quarter. First Republic Investment Management Inc. now owns 338,334 shares of the company’s stock valued at $19,678,000 after buying an additional 172,769 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Liberty Broadband Corp. by 29.9% in the first quarter. Royal Bank of Canada now owns 9,713 shares of the company’s stock valued at $563,000 after buying an additional 2,237 shares during the last quarter. Babson Capital Management LLC acquired a new position in shares of Liberty Broadband Corp. during the first quarter worth about $1,215,000. Finally, Marcato Capital Management LP boosted its position in shares of Liberty Broadband Corp. by 36.3% in the first quarter. Marcato Capital Management LP now owns 589,439 shares of the company’s stock worth $34,282,000 after buying an additional 157,057 shares in the last quarter. Institutional investors own 79.34% of the company’s stock.
Liberty Broadband Corp. (NASDAQ:LBRDA) traded down 0.92% on Friday, hitting $68.87. The stock had a trading volume of 25,125 shares. The company’s 50 day moving average is $69.16 and its 200-day moving average is $62.05. The stock has a market cap of $12.51 billion, a P/E ratio of 9.52 and a beta of 1.39. Liberty Broadband Corp. has a 12 month low of $42.03 and a 12 month high of $71.77.
Liberty Broadband Corp. Company Profile
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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