Liberty Broadband (NASDAQ:LBRDA) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Liberty Broadband Corporation (NASDAQ:LBRDA)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $50.66 and traded as high as $51.47. Liberty Broadband shares last traded at $50.92, with a volume of 126,463 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Broadband in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Liberty Broadband presently has an average rating of “Hold” and a consensus target price of $115.00.

Liberty Broadband Price Performance

The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.14. The stock has a market cap of $7.31 billion, a PE ratio of -2.72 and a beta of 0.95. The company has a fifty day moving average of $50.66 and a 200-day moving average of $52.16.

Insiders Place Their Bets

In other Liberty Broadband news, Director J David Wargo sold 44,450 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $57.30, for a total transaction of $2,546,985.00. Following the sale, the director directly owned 19,150 shares in the company, valued at $1,097,295. This represents a 69.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC acquired a new position in shares of Liberty Broadband in the third quarter valued at approximately $36,000. Franklin Resources Inc. increased its stake in Liberty Broadband by 66.2% during the 2nd 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. Comerica Bank lifted its holdings in Liberty Broadband by 104.2% during the 4th quarter. Comerica Bank now owns 1,027 shares of the company’s stock worth $50,000 after buying an additional 524 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its holdings in Liberty Broadband by 22.0% during the 4th 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 in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Liberty Broadband by 62.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,245 shares of the company’s stock valued at $220,000 after buying an additional 862 shares during the period. Hedge funds and other institutional investors own 10.29% of the company’s stock.

About Liberty Broadband

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.