Liberty Broadband (NASDAQ:LBRDA)‘s stock had its “buy” rating reissued by Pivotal Research in a note issued to investors on Monday. They presently have a $134.00 target price on the stock. Pivotal Research’s target price would suggest a potential upside of 51.05% from the company’s current price.
The analysts wrote, “We modified our sum-of the-parts valuation methodology post the LBRDK 10-K filing and most importantly for our February CHTR (BUY) YE’18 target price increase to $500, which led to $21 change in our YE’18 LBRDK target price to $134. Recall Liberty Broadband’s sole effective asset is a ~17% economic stake (25% voting) in BUY rated CHTR. We point investors to our most recent CHTR note for a detailed discussion of the underpinnings of this target price + risks. Recall we utilize an 8% discount to NAV in our LBRDK target price. We continue to have a favorable outlook for CHTR shares as we expect improving results and massive share repurchase activity to act as an attractive tailwind for the shares. On our updated estimates, Liberty Broadband continues to trade at an 11% discount to NAV, which we view as attractive.””
Several other equities analysts also recently weighed in on LBRDA. Zacks Investment Research downgraded shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub downgraded shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. TheStreet upgraded shares of Liberty Broadband from a “c” rating to a “b” rating in a research note on Tuesday, February 20th. ValuEngine downgraded shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Finally, Buckingham Research assumed coverage on shares of Liberty Broadband in a research note on Wednesday, December 13th. They issued a “buy” rating and a $119.00 target price for the company. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Liberty Broadband presently has a consensus rating of “Hold” and an average price target of $122.75.
In related news, Director John E. Welsh III purchased 2,000 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was acquired at an average price of $85.50 per share, with a total value of $171,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 6.09% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Wisconsin Investment Board lifted its holdings in shares of Liberty Broadband by 72.7% in the 4th quarter. State of Wisconsin Investment Board now owns 679,365 shares of the company’s stock worth $57,780,000 after acquiring an additional 286,067 shares during the last quarter. State Street Corp lifted its holdings in shares of Liberty Broadband by 1.3% in the 2nd quarter. State Street Corp now owns 308,683 shares of the company’s stock worth $26,478,000 after acquiring an additional 3,975 shares during the last quarter. Hound Partners LLC lifted its holdings in shares of Liberty Broadband by 0.3% in the 4th quarter. Hound Partners LLC now owns 259,160 shares of the company’s stock worth $22,042,000 after acquiring an additional 674 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Liberty Broadband by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 256,923 shares of the company’s stock worth $21,851,000 after acquiring an additional 3,992 shares during the last quarter. Finally, Newtyn Management LLC bought a new stake in shares of Liberty Broadband in the 3rd quarter worth approximately $23,074,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.
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Liberty Broadband Company Profile
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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