Liberty Broadband (NASDAQ:LBRDA) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Liberty Broadband Co. (NASDAQ:LBRDA) saw strong trading volume on Friday . 62,349 shares were traded during mid-day trading, a decline of 23% from the previous session’s volume of 80,825 shares.The stock last traded at $75.55 and had previously closed at $75.18.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LBRDA shares. Rosenblatt Securities lowered shares of Liberty Broadband from a “buy” rating to a “neutral” rating and raised their target price for the company from $91.00 to $92.00 in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $95.00 price objective (up from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th.

Liberty Broadband Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $10.78 billion, a P/E ratio of 13.89 and a beta of 1.06. The business’s fifty day moving average is $81.68 and its 200-day moving average is $71.98.

Liberty Broadband (NASDAQ:LBRDA) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.66). The business had revenue of $262.00 million for the quarter, compared to the consensus estimate of $242.40 million. Liberty Broadband had a net margin of 78.07% and a return on equity of 8.45%. During the same quarter last year, the firm posted $1.10 EPS.

Insiders Place Their Bets

In other news, CEO Gregory B. Maffei sold 71,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $82.00, for a total value of $5,863,000.00. Following the transaction, the chief executive officer now owns 2,827,013 shares in the company, valued at $231,815,066. The trade was a 2.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 196,542 shares of company stock valued at $15,834,108. Corporate insiders own 14.19% of the company’s stock.

Institutional Investors Weigh In On Liberty Broadband

A number of hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its stake in Liberty Broadband by 9.1% in the third quarter. Signaturefd LLC now owns 2,119 shares of the company’s stock valued at $163,000 after purchasing an additional 177 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Liberty Broadband in the 3rd quarter worth about $30,000. GAMMA Investing LLC boosted its position in Liberty Broadband by 161.8% during the third quarter. GAMMA Investing LLC now owns 631 shares of the company’s stock worth $48,000 after purchasing an additional 390 shares during the period. American National Bank & Trust bought a new position in Liberty Broadband in the 3rd quarter worth approximately $32,000. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Liberty Broadband by 116.6% in the third quarter. Glenmede Trust Co. NA now owns 990 shares of the company’s stock worth $76,000 after acquiring an additional 533 shares during the period. 10.29% of the stock is currently owned by institutional investors.

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.