Liberty Broadband (NASDAQ:LBRDK) Sees Large Volume Increase – Still a Buy?

Liberty Broadband Corporation (NASDAQ:LBRDK) saw an uptick in trading volume on Thursday . Approximately 4,945,385 shares traded hands during trading, an increase of 208% from the previous session’s volume of 1,606,808 shares.The stock last traded at $29.5290 and had previously closed at $30.40.

Analysts Set New Price Targets

Several research firms recently issued reports on LBRDK. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Liberty Broadband from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Liberty Broadband Trading Down 3.0%

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -1.54 and a beta of 0.65. The firm has a 50-day moving average price of $32.05 and a 200 day moving average price of $43.16.

Hedge Funds Weigh In On Liberty Broadband

A number of hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its stake in Liberty Broadband by 12.6% during the second quarter. Handelsbanken Fonder AB now owns 42,011 shares of the company’s stock valued at $1,397,000 after purchasing an additional 4,700 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Liberty Broadband by 8.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,416,591 shares of the company’s stock worth $80,376,000 after acquiring an additional 189,394 shares during the period. Versant Capital Management Inc raised its stake in Liberty Broadband by 315.9% during the second quarter. Versant Capital Management Inc now owns 6,114 shares of the company’s stock worth $203,000 after acquiring an additional 4,644 shares during the period. Glenmede Trust Co. NA lifted its holdings in Liberty Broadband by 4.0% in the first quarter. Glenmede Trust Co. NA now owns 42,041 shares of the company’s stock worth $2,115,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Essential Partners LLC lifted its holdings in Liberty Broadband by 153.9% in the first quarter. Essential Partners LLC now owns 678 shares of the company’s stock worth $34,000 after acquiring an additional 411 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Company Profile

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.