Liberty Broadband (LBRDK) Rating Increased to Strong-Buy at Zacks Investment Research

Liberty Broadband (NASDAQ:LBRDK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday. The firm presently has a $107.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.70% from the stock’s current price.

According to Zacks, “Liberty Broadband Corporation, through its subsidiaries, engages in providing digital cable services to residential and commercial customers; and entertainment, information, and communications solutions. It also provides wireless location positioning and related services. Liberty Broadband Corporation is based in Englewood, Colorado. “

Liberty Broadband (LBRDK) opened at $93.29 on Friday. The stock has a market cap of $16,849.76, a PE ratio of 926.60 and a beta of 1.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 11.64 and a quick ratio of 11.64. Liberty Broadband has a one year low of $78.39 and a one year high of $104.66.

Liberty Broadband (NASDAQ:LBRDK) last issued its earnings results on Wednesday, November 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.32). Liberty Broadband had a net margin of 142.91% and a return on equity of 0.22%. sell-side analysts expect that Liberty Broadband will post 0.13 earnings per share for the current fiscal year.

In other news, Director John E. Welsh III acquired 2,000 shares of Liberty Broadband stock in a transaction that occurred on Friday, December 22nd. The shares were acquired at an average price of $85.50 per share, with a total value of $171,000.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $427,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Malone sold 45,000 shares of Liberty Broadband stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $93.32, for a total transaction of $4,199,400.00. Following the transaction, the director now directly owns 3,418,279 shares in the company, valued at approximately $318,993,796.28. The disclosure for this sale can be found here. 10.80% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Liberty Broadband by 9.3% during the 2nd quarter. BlackRock Inc. now owns 5,960,819 shares of the company’s stock worth $517,099,000 after buying an additional 508,748 shares during the period. Harris Associates L P raised its holdings in Liberty Broadband by 9.2% during the 2nd quarter. Harris Associates L P now owns 1,834,770 shares of the company’s stock worth $159,166,000 after buying an additional 154,535 shares during the period. Naya Capital Management UK Ltd. raised its holdings in Liberty Broadband by 7.3% during the 2nd quarter. Naya Capital Management UK Ltd. now owns 1,079,714 shares of the company’s stock worth $93,665,000 after buying an additional 73,024 shares during the period. Goldman Sachs Group Inc. raised its holdings in Liberty Broadband by 72.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 978,077 shares of the company’s stock worth $84,849,000 after buying an additional 410,879 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Liberty Broadband by 7.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 776,876 shares of the company’s stock worth $74,031,000 after buying an additional 55,404 shares during the period. Hedge funds and other institutional investors own 54.02% of the company’s stock.

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About Liberty Broadband

Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook). The Company’s segments include Skyhook, Charter, and Corporate and other. Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.

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