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

Liberty Broadband Corporation (NASDAQ:LBRDK)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $29.40, but opened at $31.03. Liberty Broadband shares last traded at $30.5480, with a volume of 40,164 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LBRDK shares. Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research note on Friday, March 27th. Wall Street Zen upgraded Liberty Broadband from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Liberty Broadband Trading Down 1.5%

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 stock has a market capitalization of $4.35 billion, a PE ratio of -1.58 and a beta of 0.66. The business’s 50-day moving average is $36.80 and its two-hundred day moving average is $45.42.

Institutional Investors Weigh In On Liberty Broadband

Hedge funds have recently added to or reduced their stakes in the company. Highlander Partners L.P. purchased a new stake in Liberty Broadband in the 4th quarter valued at approximately $26,000. Western Wealth Management LLC purchased a new position in shares of Liberty Broadband during the 1st quarter worth approximately $28,000. eCIO Inc. acquired a new stake in shares of Liberty Broadband in the 4th quarter valued at approximately $30,000. Essential Partners LLC lifted its holdings in shares of Liberty Broadband by 153.9% in the 1st quarter. Essential Partners LLC now owns 678 shares of the company’s stock valued at $34,000 after buying an additional 411 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Liberty Broadband in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 80.22% of the company’s stock.

About Liberty Broadband

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.