Liberty Broadband (NASDAQ:LBRDK) Shares Gap Up to $56.34

Liberty Broadband Co. (NASDAQ:LBRDK)’s share price gapped up before the market opened on Friday . The stock had previously closed at $56.34, but opened at $62.92. Liberty Broadband shares last traded at $65.63, with a volume of 482,638 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their price objective on Liberty Broadband from $62.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, July 19th.

Liberty Broadband Price Performance

The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $53.28 and its two-hundred day moving average price is $57.76. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 11.14 and a beta of 1.01.

Liberty Broadband (NASDAQ:LBRDK) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.69 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($0.69). The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $244.41 million. Liberty Broadband had a return on equity of 9.55% and a net margin of 87.75%. Equities research analysts forecast that Liberty Broadband Co. will post 9.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position in Liberty Broadband by 4,888.9% in the 2nd quarter. Versant Capital Management Inc now owns 449 shares of the company’s stock worth $25,000 after purchasing an additional 440 shares in the last quarter. Beach Investment Counsel Inc. PA acquired a new stake in Liberty Broadband during the second quarter valued at $36,000. Mather Group LLC. grew its position in Liberty Broadband by 103.7% during the second quarter. Mather Group LLC. now owns 762 shares of the company’s stock valued at $44,000 after buying an additional 388 shares during the period. Tower Research Capital LLC TRC increased its holdings in Liberty Broadband by 423.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 978 shares of the company’s stock valued at $79,000 after buying an additional 791 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Liberty Broadband by 40.1% in the fourth quarter. Van ECK Associates Corp now owns 1,318 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares during the period. 80.22% of the stock is currently owned by hedge funds and other 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.