Liberty Broadband (NASDAQ:LBRDK) Shares Gap Up to $61.04

Shares of Liberty Broadband Co. (NASDAQ:LBRDK) gapped up prior to trading on Tuesday . The stock had previously closed at $61.04, but opened at $75.38. Liberty Broadband shares last traded at $75.35, with a volume of 902,167 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Rosenblatt Securities upped their price objective on Liberty Broadband from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley upped their target price on shares of Liberty Broadband from $62.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, July 19th.

Liberty Broadband Trading Up 25.4 %

The business has a 50 day simple moving average of $61.81 and a two-hundred day simple moving average of $56.04. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39. The company has a market cap of $10.93 billion, a PE ratio of 12.67 and a beta of 1.02.

Liberty Broadband (NASDAQ:LBRDK) last released its earnings results on Thursday, August 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($1.15). The business had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $244.25 million. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same quarter last year, the company posted $1.71 earnings per share. On average, analysts forecast that Liberty Broadband Co. will post 9.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Liberty Broadband

Several hedge funds have recently modified their holdings of the stock. Wealthspire Advisors LLC increased its stake in Liberty Broadband by 6.7% during the first quarter. Wealthspire Advisors LLC now owns 4,244 shares of the company’s stock worth $243,000 after acquiring an additional 268 shares during the last quarter. Wahed Invest LLC lifted its position in shares of Liberty Broadband by 14.2% during the first quarter. Wahed Invest LLC now owns 2,266 shares of the company’s stock worth $130,000 after purchasing an additional 281 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Liberty Broadband by 4.0% in the first quarter. Daiwa Securities Group Inc. now owns 7,845 shares of the company’s stock worth $449,000 after purchasing an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Liberty Broadband by 1.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 16,199 shares of the company’s stock valued at $919,000 after buying an additional 302 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Liberty Broadband by 103.7% during the second quarter. Mather Group LLC. now owns 762 shares of the company’s stock valued at $44,000 after buying an additional 388 shares in the last quarter. 80.22% 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.