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

Liberty Broadband (NASDAQ:LBRDK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday, January 20th. The brokerage presently has a $107.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 23.47% from the stock’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. “

Shares of Liberty Broadband (LBRDK) traded down $0.32 during trading on Friday, reaching $86.66. The company’s stock had a trading volume of 1,399,182 shares, compared to its average volume of 640,192. The company has a market cap of $15,758.69, a P/E ratio of 866.69 and a beta of 1.36. The company has a quick ratio of 11.64, a current ratio of 11.64 and a debt-to-equity ratio of 0.06. Liberty Broadband has a 12 month low of $80.41 and a 12 month high of $104.66.

In other news, Director John E. Welsh III bought 2,000 shares of the stock in a transaction on Friday, December 22nd. The stock was acquired at an average cost of $85.50 per share, for a total transaction of $171,000.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $427,500. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its holdings in shares of Liberty Broadband by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 199,979 shares of the company’s stock valued at $17,349,000 after purchasing an additional 10,703 shares during the period. Prudential Financial Inc. acquired a new position in shares of Liberty Broadband in the second quarter valued at about $223,000. JPMorgan Chase & Co. increased its holdings in shares of Liberty Broadband by 144.3% in the second quarter. JPMorgan Chase & Co. now owns 148,017 shares of the company’s stock valued at $12,840,000 after purchasing an additional 87,438 shares during the period. Teachers Advisors LLC increased its holdings in shares of Liberty Broadband by 2.1% in the second quarter. Teachers Advisors LLC now owns 123,484 shares of the company’s stock valued at $10,712,000 after purchasing an additional 2,578 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Liberty Broadband by 7.2% in the second quarter. TIAA CREF Investment Management LLC now owns 338,562 shares of the company’s stock valued at $29,370,000 after purchasing an additional 22,699 shares during the period. Hedge funds and other institutional investors own 53.96% of the company’s stock.

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About Liberty Broadband

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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