Liberty Broadband (NASDAQ:LBRDA) Shares Gap Up to $59.87

Liberty Broadband Co. (NASDAQ:LBRDA)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $59.87, but opened at $73.94. Liberty Broadband shares last traded at $74.23, with a volume of 228,277 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LBRDA shares. Evercore ISI lowered their price objective on shares of Liberty Broadband from $106.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Liberty Broadband from $104.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Citigroup downgraded Liberty Broadband from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $57.00 in a research note on Wednesday, July 3rd.

Liberty Broadband Stock Up 27.6 %

The stock has a 50 day moving average price of $60.78 and a 200 day moving average price of $55.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market capitalization of $10.91 billion, a P/E ratio of 12.46 and a beta of 1.04.

Liberty Broadband (NASDAQ:LBRDA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $3.12 by ($1.76). The company had revenue of $246.00 million during the quarter. Liberty Broadband had a return on equity of 8.79% and a net margin of 81.86%. During the same quarter last year, the company posted $1.71 earnings per share.

Institutional Investors Weigh In On Liberty Broadband

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Liberty Broadband in the fourth quarter worth approximately $17,239,000. Mango Investments LLC purchased a new stake in shares of Liberty Broadband during the 4th quarter valued at $3,181,000. Vanguard Group Inc. grew its position in Liberty Broadband by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,570,076 shares of the company’s stock worth $126,611,000 after acquiring an additional 5,709 shares in the last quarter. Alaska Permanent Fund Corp raised its position in Liberty Broadband by 101.1% during the first quarter. Alaska Permanent Fund Corp now owns 11,233 shares of the company’s stock valued at $642,000 after purchasing an additional 5,648 shares in the last quarter. Finally, AMI Investment Management Inc. lifted its stake in Liberty Broadband by 7.9% during the first quarter. AMI Investment Management Inc. now owns 36,410 shares of the company’s stock worth $2,080,000 after purchasing an additional 2,672 shares during the last quarter. 10.29% of the stock is currently owned by institutional investors.

About Liberty Broadband

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.