Liberty Broadband (NASDAQ:LBRDA) Sees Large Volume Increase – Here’s Why

Shares of Liberty Broadband Co. (NASDAQ:LBRDA) saw strong trading volume on Wednesday . 376,117 shares were traded during mid-day trading, an increase of 149% from the previous session’s volume of 151,082 shares.The stock last traded at $85.65 and had previously closed at $85.33.

Analysts Set New Price Targets

A number of equities analysts have commented on LBRDA shares. Rosenblatt Securities cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $91.00 to $92.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $95.00 price target (up from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th.

Liberty Broadband Price Performance

The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $83.61 and its 200-day moving average price is $66.55. The stock has a market capitalization of $12.20 billion, a PE ratio of 15.71 and a beta of 1.05.

Liberty Broadband (NASDAQ:LBRDA) last issued its earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. The firm had revenue of $262.00 million during the quarter, compared to analysts’ expectations of $242.40 million. During the same quarter in the prior year, the company earned $1.10 EPS.

Insiders Place Their Bets

In related news, CAO Brian J. Wendling sold 2,208 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total transaction of $167,454.72. Following the transaction, the chief accounting officer now owns 11,054 shares of the company’s stock, valued at $838,335.36. This represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 4,423 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total value of $338,624.88. Following the completion of the sale, the insider now directly owns 3,670 shares in the company, valued at $280,975.20. This trade represents a 54.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,673 shares of company stock valued at $509,688 in the last three months. 14.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liberty Broadband

Several large investors have recently added to or reduced their stakes in LBRDA. Signaturefd LLC grew its stake in shares of Liberty Broadband by 9.1% in the third quarter. Signaturefd LLC now owns 2,119 shares of the company’s stock valued at $163,000 after buying an additional 177 shares in the last quarter. Bfsg LLC grew its stake in Liberty Broadband by 11.1% during the 2nd quarter. Bfsg LLC now owns 3,340 shares of the company’s stock valued at $182,000 after purchasing an additional 335 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Liberty Broadband during the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC grew its stake in Liberty Broadband by 161.8% during the 3rd quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock valued at $48,000 after purchasing an additional 390 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in Liberty Broadband during the 3rd quarter valued at approximately $32,000. 10.29% of the stock is currently owned by hedge funds and other institutional investors.

About Liberty Broadband

Liberty Broadband Corporation engages in the communications businesses. The company’s GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.