Liberty Broadband (NASDAQ:LBRDA) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Liberty Broadband Co. (NASDAQ:LBRDA) passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Rosenblatt Securities downgraded 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 note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $95.00 price target (up previously from $90.00) on shares of Liberty Broadband in a research note on Friday, November 15th.

Liberty Broadband Stock Performance

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 cap of $11.48 billion, a price-to-earnings ratio of 14.80 and a beta of 1.07. The company has a 50 day simple moving average of $77.25 and a 200 day simple moving average of $75.04.

Insiders Place Their Bets

In other news, CEO Gregory B. Maffei sold 125,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $79.74, for a total transaction of $9,967,500.00. Following the sale, the chief executive officer now directly owns 1,435,256 shares in the company, valued at approximately $114,447,313.44. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 196,542 shares of company stock valued at $15,834,108. 14.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Liberty Broadband

Several hedge funds and other institutional investors have recently made changes to their positions in LBRDA. Wealthfront Advisers LLC bought a new stake in Liberty Broadband in the fourth quarter valued at approximately $35,441,000. Norges Bank bought a new stake in Liberty Broadband in the fourth quarter valued at approximately $15,896,000. Verition Fund Management LLC bought a new stake in Liberty Broadband in the third quarter valued at approximately $6,402,000. Virtu Financial LLC boosted its holdings in Liberty Broadband by 199.4% in the fourth quarter. Virtu Financial LLC now owns 107,135 shares of the company’s stock valued at $7,967,000 after acquiring an additional 71,354 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Liberty Broadband in the fourth quarter valued at approximately $4,390,000. 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.