Liberty Broadband (NASDAQ:LBRDA) Shares Gap Up – Here’s Why

Liberty Broadband Corporation (NASDAQ:LBRDA) shares gapped up before the market opened on Monday . The stock had previously closed at $31.31, but opened at $39.26. Liberty Broadband shares last traded at $35.8310, with a volume of 89,345 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Broadband in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Liberty Broadband Price Performance

The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -1.82 and a beta of 0.66. The company has a fifty day simple moving average of $36.35 and a 200 day simple moving average of $45.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.09.

Liberty Broadband (NASDAQ:LBRDA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.41 earnings per share for the quarter.

Institutional Trading of Liberty Broadband

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Liberty Broadband by 114.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 602 shares of the company’s stock worth $30,000 after purchasing an additional 321 shares during the period. Comerica Bank boosted its stake in shares of Liberty Broadband by 104.2% in the 4th quarter. Comerica Bank now owns 1,027 shares of the company’s stock valued at $50,000 after purchasing an additional 524 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Liberty Broadband by 66.2% during the second quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock worth $60,000 after buying an additional 245 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of Liberty Broadband by 22.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,377 shares of the company’s stock worth $66,000 after buying an additional 248 shares during the period. Finally, Parallel Advisors LLC raised its stake in Liberty Broadband by 388.4% during the first quarter. Parallel Advisors LLC now owns 2,154 shares of the company’s stock worth $108,000 after buying an additional 1,713 shares during the last quarter. Institutional investors and hedge funds own 10.29% of the company’s stock.

Liberty Broadband Company Profile

Liberty Broadband Corporation is a holding company primarily focused on investments in broadband businesses, most notably a significant equity interest in Charter Communications, Inc As a shareholder of Charter’s Class A common stock, Liberty Broadband benefits from the growth and operational performance of one of the largest cable and broadband providers in the United States. The company does not operate consumer services directly but instead seeks to enhance shareholder value through its strategic stake and board representation in Charter.

In addition to its Charter position, Liberty Broadband holds an ownership interest in GCI Liberty, Inc, a holding company with interests in an Alaskan telecommunications provider and other media assets.