Liberty Broadband (NASDAQ:LBRDA) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Liberty Broadband Co. (NASDAQ:LBRDA) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $77.25 and traded as high as $80.86. Liberty Broadband shares last traded at $80.38, with a volume of 46,907 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on LBRDA. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $95.00 target price (up from $90.00) on shares of Liberty Broadband in a report on Friday, November 15th. Rosenblatt Securities cut Liberty Broadband from a “buy” rating to a “neutral” rating and increased their price target for the stock from $91.00 to $92.00 in a report on Thursday, November 14th.

Liberty Broadband Price Performance

The stock has a market capitalization of $11.48 billion, a P/E ratio of 14.80 and a beta of 1.07. The business has a fifty day simple moving average of $77.25 and a 200-day simple moving average of $75.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07.

Insiders Place Their Bets

In other news, CEO Gregory B. Maffei sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the transaction, the chief executive officer now directly owns 1,435,256 shares of the company’s stock, valued at $114,447,313.44. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 196,542 shares of company stock worth $15,834,108. Corporate insiders own 14.19% of the company’s stock.

Hedge Funds Weigh In On Liberty Broadband

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Liberty Broadband by 891.9% in the 4th quarter. Farther Finance Advisors LLC now owns 367 shares of the company’s stock valued at $27,000 after buying an additional 330 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Liberty Broadband in the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its position in Liberty Broadband by 161.8% in the 3rd quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock valued at $48,000 after buying an additional 390 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Liberty Broadband in the 3rd quarter valued at $54,000. Finally, Sterling Capital Management LLC raised its position in Liberty Broadband by 48.2% in the 4th quarter. Sterling Capital Management LLC now owns 815 shares of the company’s stock valued at $61,000 after buying an additional 265 shares during the last quarter. 10.29% of the stock is owned by institutional investors and hedge funds.

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.