Liberty Broadband (NASDAQ:LBRDA) Sets New 12-Month High - Here's What Happened

Shares of Liberty Broadband Co. (NASDAQ:LBRDA - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $92.44 and last traded at $92.33, with a volume of 79717 shares changing hands. The stock had previously closed at $80.23.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft cut their price objective on Liberty Broadband from $104.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, August 16th.

Liberty Broadband Stock Performance

The stock has a market capitalization of $12.81 billion, a P/E ratio of 16.59 and a beta of 1.06. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $70.65 and a 200 day moving average of $60.27.

Liberty Broadband (NASDAQ:LBRDA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $3.12 by ($1.76). The company had revenue of $246.00 million for the quarter. Liberty Broadband had a net margin of 81.86% and a return on equity of 8.79%. During the same quarter last year, the firm earned $1.71 earnings per share.

Insider Activity

In other Liberty Broadband news, insider Renee L. Wilm sold 4,423 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $76.56, for a total value of $338,624.88. Following the transaction, the insider now owns 3,670 shares of the company's stock, valued at approximately $280,975.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Renee L. Wilm sold 4,423 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $76.56, for a total transaction of $338,624.88. Following the sale, the insider now directly owns 3,670 shares of the company's stock, valued at $280,975.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian J. Wendling sold 2,208 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $75.84, for a total transaction of $167,454.72. Following the completion of the transaction, the chief accounting officer now owns 11,054 shares of the company's stock, valued at $838,335.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 14.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Liberty Broadband

Several institutional investors and hedge funds have recently made changes to their positions in the business. Private Management Group Inc. boosted its stake in Liberty Broadband by 212,386.5% during the 1st quarter. Private Management Group Inc. now owns 299,606 shares of the company's stock worth $17,113,000 after acquiring an additional 299,465 shares during the last quarter. Long Focus Capital Management LLC increased its position in shares of Liberty Broadband by 61.9% during the second quarter. Long Focus Capital Management LLC now owns 370,100 shares of the company's stock worth $20,207,000 after acquiring an additional 141,500 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Liberty Broadband by 38.3% during the second quarter. Dimensional Fund Advisors LP now owns 376,293 shares of the company's stock worth $20,544,000 after acquiring an additional 104,268 shares during the period. BNP Paribas Financial Markets lifted its position in Liberty Broadband by 279.6% in the 1st quarter. BNP Paribas Financial Markets now owns 111,680 shares of the company's stock valued at $6,379,000 after acquiring an additional 82,261 shares in the last quarter. Finally, Cowen AND Company LLC acquired a new position in Liberty Broadband in the 2nd quarter worth $4,445,000. Institutional investors own 10.29% of the company's stock.

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. 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.