Liberty Broadband (NASDAQ:LBRDA) Shares Gap Up to $59.87

Shares of Liberty Broadband Co. (NASDAQ:LBRDA) gapped up prior to trading on Tuesday . The stock had previously closed at $59.87, but opened at $73.94. Liberty Broadband shares last traded at $74.23, with a volume of 228,277 shares trading hands.

Wall Street Analyst Weigh In

LBRDA has been the topic of several recent analyst reports. Evercore ISI cut their price objective on Liberty Broadband from $106.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Liberty Broadband from $104.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Citigroup cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and cut their price objective for the company from $67.00 to $57.00 in a research report on Wednesday, July 3rd.

Liberty Broadband Trading Up 27.6 %

The business’s 50-day moving average price is $60.78 and its two-hundred day moving average price is $55.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 12.46 and a beta of 1.04.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($1.76). The business had revenue of $246.00 million for the quarter. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same period in the prior year, the business earned $1.71 earnings per share.

Hedge Funds Weigh In On Liberty Broadband

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in Liberty Broadband during the 1st quarter valued at approximately $49,000. Central Pacific Bank Trust Division acquired a new position in Liberty Broadband in the first quarter valued at $72,000. CWM LLC grew its holdings in Liberty Broadband by 112.6% during the 2nd quarter. CWM LLC now owns 1,352 shares of the company’s stock worth $74,000 after acquiring an additional 716 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Liberty Broadband by 166,900.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,670 shares of the company’s stock worth $91,000 after acquiring an additional 1,669 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Liberty Broadband by 184.3% in the 2nd quarter. Signaturefd LLC now owns 1,942 shares of the company’s stock worth $106,000 after acquiring an additional 1,259 shares in the last quarter. Institutional investors and hedge funds own 10.29% of the company’s stock.

Liberty Broadband Company Profile

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.