Liberty Broadband Corp Series C (NASDAQ:LBRDK) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Liberty Broadband Corp Series C (NASDAQ:LBRDK) from a strong sell rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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. “

A number of other brokerages have also issued reports on LBRDK. BidaskClub raised shares of Liberty Broadband Corp Series C from a hold rating to a buy rating in a report on Wednesday, August 28th. Citigroup started coverage on shares of Liberty Broadband Corp Series C in a report on Friday, October 4th. They issued a buy rating and a $125.00 price objective for the company. TD Securities raised shares of Liberty Broadband Corp Series C from a hold rating to a buy rating and set a $125.00 price objective for the company in a report on Friday, August 9th. ValuEngine lowered shares of Liberty Broadband Corp Series C from a hold rating to a sell rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley upped their price objective on shares of Liberty Broadband Corp Series C from $110.00 to $117.00 and gave the company an equal weight rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $119.25.

Shares of LBRDK traded down $0.36 during mid-day trading on Thursday, reaching $106.68. The stock had a trading volume of 198,579 shares, compared to its average volume of 529,902. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.53 and a quick ratio of 2.53. Liberty Broadband Corp Series C has a 52-week low of $68.47 and a 52-week high of $109.72. The business’s fifty day moving average is $106.40 and its 200 day moving average is $101.68. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 280.74 and a beta of 1.25.

Liberty Broadband Corp Series C (NASDAQ:LBRDK) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.37). Liberty Broadband Corp Series C had a net margin of 504.89% and a return on equity of 0.68%. The firm had revenue of $3.75 million during the quarter. As a group, sell-side analysts anticipate that Liberty Broadband Corp Series C will post 1.11 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Liberty Broadband Corp Series C by 2.5% during the second quarter. Vanguard Group Inc. now owns 13,206,492 shares of the company’s stock worth $1,376,380,000 after buying an additional 319,646 shares during the period. JPMorgan Chase & Co. boosted its stake in Liberty Broadband Corp Series C by 14.9% during the second quarter. JPMorgan Chase & Co. now owns 1,116,232 shares of the company’s stock worth $114,694,000 after buying an additional 144,977 shares during the period. Atalan Capital Partners LP boosted its stake in Liberty Broadband Corp Series C by 15.9% during the second quarter. Atalan Capital Partners LP now owns 985,000 shares of the company’s stock worth $102,657,000 after buying an additional 135,000 shares during the period. Nuveen Asset Management LLC purchased a new position in Liberty Broadband Corp Series C during the second quarter worth about $82,656,000. Finally, Northern Trust Corp boosted its stake in Liberty Broadband Corp Series C by 1.3% during the second quarter. Northern Trust Corp now owns 783,969 shares of the company’s stock worth $81,705,000 after buying an additional 10,213 shares during the period. 54.28% of the stock is owned by institutional investors.

About Liberty Broadband Corp Series C

Liberty Broadband Corporation, a cable operator, provides video, Internet, and voice services to residential, and small and medium business customers in the United States. The company operates through Skyhook and Charter segments. The Skyhook segment offers Precision Location Solution, a location determination service for mobile device makers, wireless carriers, and asset tracking platforms to understand the precise geographic location and movement of mobile devices, as well as for enhancing the location determination capabilities of a hybrid location system.

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