Liberty Broadband (NASDAQ:LBRDA) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Liberty Broadband Co. (NASDAQ:LBRDA) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $77.25 and traded as high as $80.86. Liberty Broadband shares last traded at $80.38, with a volume of 46,907 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LBRDA. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $95.00 price target (up from $90.00) on shares of Liberty Broadband in a research report on Friday, November 15th. Rosenblatt Securities cut shares of Liberty Broadband from a “buy” rating to a “neutral” rating and boosted their price target for the company from $91.00 to $92.00 in a research report on Thursday, November 14th.

Liberty Broadband Trading Up 0.5 %

The business’s 50-day moving average is $77.05 and its two-hundred day moving average is $75.18. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $11.54 billion, a PE ratio of 14.87 and a beta of 1.07.

Insider Activity

In other news, CEO Gregory B. Maffei sold 71,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $82.00, for a total value of $5,863,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,827,013 shares of the company’s stock, valued at approximately $231,815,066. This represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 196,542 shares of company stock valued at $15,834,108. Insiders own 14.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Liberty Broadband during the third quarter worth about $1,815,000. Verition Fund Management LLC acquired a new position in shares of Liberty Broadband during the third quarter worth about $6,402,000. Baupost Group LLC MA acquired a new position in shares of Liberty Broadband during the third quarter worth about $581,000. Barclays PLC increased its stake in shares of Liberty Broadband by 244.6% during the third quarter. Barclays PLC now owns 4,887 shares of the company’s stock worth $375,000 after acquiring an additional 3,469 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Liberty Broadband during the third quarter worth about $1,235,000. 10.29% of the stock is currently owned by institutional investors and hedge funds.

Liberty Broadband Company Profile

Liberty Broadband Corporation engages in the communications businesses. The company’s GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.