Liberty Broadband (LBRDK) Upgraded by Zacks Investment Research to “Strong-Buy”

Liberty Broadband (NASDAQ:LBRDK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday. The brokerage currently has a $107.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.70% from the company’s previous close.

According to Zacks, “Liberty Broadband Corporation, through its subsidiaries, engages in providing digital cable services to residential and commercial customers; and entertainment, information, and communications solutions. It also provides wireless location positioning and related services. Liberty Broadband Corporation is based in Englewood, Colorado. “

Liberty Broadband (LBRDK) opened at $93.29 on Friday. The stock has a market cap of $16,860.00, a PE ratio of 932.90 and a beta of 1.29. Liberty Broadband has a one year low of $78.39 and a one year high of $104.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 11.64 and a quick ratio of 11.64.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.32). Liberty Broadband had a return on equity of 0.22% and a net margin of 142.91%.

In other news, Director John C. Malone sold 45,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $93.32, for a total value of $4,199,400.00. Following the transaction, the director now owns 3,418,279 shares in the company, valued at approximately $318,993,796.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Welsh III acquired 2,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was acquired at an average price of $85.50 per share, for a total transaction of $171,000.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $427,500. The disclosure for this purchase can be found here. 10.80% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of LBRDK. Schwab Charles Investment Management Inc. lifted its stake in shares of Liberty Broadband by 5.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 199,979 shares of the company’s stock worth $17,349,000 after purchasing an additional 10,703 shares during the period. Prudential Financial Inc. bought a new position in shares of Liberty Broadband in the 2nd quarter worth approximately $223,000. JPMorgan Chase & Co. lifted its stake in shares of Liberty Broadband by 144.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 148,017 shares of the company’s stock worth $12,840,000 after purchasing an additional 87,438 shares during the period. Teachers Advisors LLC increased its holdings in Liberty Broadband by 2.1% in the 2nd quarter. Teachers Advisors LLC now owns 123,484 shares of the company’s stock worth $10,712,000 after acquiring an additional 2,578 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Liberty Broadband by 7.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 338,562 shares of the company’s stock worth $29,370,000 after acquiring an additional 22,699 shares in the last quarter. Hedge funds and other institutional investors own 54.02% of the company’s stock.

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Liberty Broadband Company Profile

Liberty Broadband Corporation holds interest in Charter Communications, Inc (Charter) and its subsidiary Skyhook Holding, Inc (Skyhook). The Company’s segments include Skyhook, Charter, and Corporate and other. Skyhook provides a wireless fidelity (Wi-Fi)-based location platform focused on providing positioning technology and contextual location intelligence solutions.

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