Liberty Broadband (NASDAQ:LBRDA) Shares Gap Up – Here’s What Happened

Liberty Broadband Corporation (NASDAQ:LBRDA)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $31.31, but opened at $39.26. Liberty Broadband shares last traded at $35.8310, with a volume of 89,345 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Liberty Broadband in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Liberty Broadband currently has a consensus rating of “Sell”.

Liberty Broadband Stock Down 2.8%

The stock’s fifty day moving average is $35.49 and its two-hundred day moving average is $45.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $4.78 billion, a PE ratio of -1.74 and a beta of 0.66.

Liberty Broadband (NASDAQ:LBRDA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.41 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Liberty Broadband

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Liberty Broadband by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 1,679,806 shares of the company’s stock valued at $81,101,000 after purchasing an additional 91,276 shares during the period. Millennium Management LLC increased its position in Liberty Broadband by 5.4% in the fourth quarter. Millennium Management LLC now owns 629,881 shares of the company’s stock worth $30,411,000 after buying an additional 32,119 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Liberty Broadband by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 496,391 shares of the company’s stock valued at $31,436,000 after buying an additional 11,789 shares during the period. Verition Fund Management LLC raised its stake in shares of Liberty Broadband by 37.9% in the fourth quarter. Verition Fund Management LLC now owns 404,192 shares of the company’s stock valued at $19,514,000 after buying an additional 111,105 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of Liberty Broadband by 21.9% during the 4th quarter. Squarepoint Ops LLC now owns 393,361 shares of the company’s stock valued at $18,991,000 after buying an additional 70,610 shares during the last quarter. 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.