Liberty Broadband (NASDAQ:LBRDK) Shares Up 14.4% – Here’s What Happened

Shares of Liberty Broadband Corporation (NASDAQ:LBRDK) shot up 14.4% on Monday . The company traded as high as $39.60 and last traded at $35.8560. 467,988 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,619,809 shares. The stock had previously closed at $31.33.

Wall Street Analysts Forecast Growth

LBRDK has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. Wall Street Zen upgraded Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Liberty Broadband presently has a consensus rating of “Sell”.

Liberty Broadband Stock Down 2.9%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $4.77 billion, a PE ratio of -1.74 and a beta of 0.66. The company has a fifty day moving average price of $35.54 and a 200-day moving average price of $45.10.

Institutional Investors Weigh In On Liberty Broadband

A number of hedge funds have recently bought and sold shares of the business. Highlander Partners L.P. purchased a new position in shares of Liberty Broadband in the 4th quarter worth $26,000. Western Wealth Management LLC purchased a new stake in shares of Liberty Broadband during the 1st quarter valued at about $28,000. eCIO Inc. bought a new position in shares of Liberty Broadband in the 4th quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in shares of Liberty Broadband in the 3rd quarter valued at about $42,000. Finally, Essential Partners LLC grew its position in Liberty Broadband by 153.9% in the first quarter. Essential Partners LLC now owns 678 shares of the company’s stock worth $34,000 after acquiring an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a publicly traded holding company that principally invests in broadband and cable businesses. Established in 2014 as a spin-off from Liberty Interactive Corporation, the company was designed to provide investors with targeted exposure to high-growth broadband assets. Headquartered in Englewood, Colorado, Liberty Broadband uses a tracking-stock structure to reflect the performance of its key investments rather than operating a stand-alone service business.

The company’s primary asset is its substantial equity interest in Charter Communications, one of the largest cable and broadband providers in the United States.