Liberty Broadband (NASDAQ:LBRDA)‘s stock had its “buy” rating reiterated by Pivotal Research in a research note issued on Monday, March 12th. They currently have a $134.00 price target on the stock. Pivotal Research’s price objective would suggest a potential upside of 55.38% from the company’s previous close.
The analysts wrote, “We modified our sum-of the-parts valuation methodology post the LBRDK 10-K filing and most importantly for our February CHTR (BUY) YE’18 target price increase to $500, which led to $21 change in our YE’18 LBRDK target price to $134. Recall Liberty Broadband’s sole effective asset is a ~17% economic stake (25% voting) in BUY rated CHTR. We point investors to our most recent CHTR note for a detailed discussion of the underpinnings of this target price + risks. Recall we utilize an 8% discount to NAV in our LBRDK target price. We continue to have a favorable outlook for CHTR shares as we expect improving results and massive share repurchase activity to act as an attractive tailwind for the shares. On our updated estimates, Liberty Broadband continues to trade at an 11% discount to NAV, which we view as attractive.””
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Liberty Broadband from a “hold” rating to a “sell” rating in a report on Friday, March 2nd. Zacks Investment Research cut shares of Liberty Broadband from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. TheStreet upgraded shares of Liberty Broadband from a “c” rating to a “b” rating in a report on Tuesday, February 20th. ValuEngine lowered shares of Liberty Broadband from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. Finally, Buckingham Research initiated coverage on shares of Liberty Broadband in a report on Wednesday, December 13th. They set a “buy” rating and a $119.00 target price for the company. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $122.75.
Shares of LBRDA stock opened at $86.24 on Monday. The company has a current ratio of 7.97, a quick ratio of 7.97 and a debt-to-equity ratio of 0.05. Liberty Broadband has a fifty-two week low of $80.39 and a fifty-two week high of $104.35. The stock has a market cap of $15,739.88, a PE ratio of 862.49 and a beta of 1.42.
In other Liberty Broadband news, Director John E. Welsh III bought 2,000 shares of Liberty Broadband stock in a transaction dated Friday, December 22nd. The stock was purchased at an average price of $85.50 per share, for a total transaction of $171,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.09% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Liberty Broadband during the 4th quarter valued at approximately $124,000. Quantbot Technologies LP bought a new position in shares of Liberty Broadband during the 3rd quarter valued at approximately $140,000. Glenmede Trust Co. NA boosted its position in shares of Liberty Broadband by 438.3% during the 4th quarter. Glenmede Trust Co. NA now owns 1,825 shares of the company’s stock valued at $154,000 after acquiring an additional 1,486 shares during the last quarter. Palladium Partners LLC bought a new stake in Liberty Broadband in the third quarter worth $202,000. Finally, Trexquant Investment LP bought a new stake in Liberty Broadband in the third quarter worth $208,000. 12.74% of the stock is owned by hedge funds and other institutional investors.
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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