Liberty Broadband (NASDAQ:LBRDK – Free Report) had its price objective raised by Rosenblatt Securities from $80.00 to $91.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.
Separately, Morgan Stanley boosted their price target on shares of Liberty Broadband from $62.00 to $69.00 and gave the stock an equal weight rating in a research note on Friday, July 19th.
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Liberty Broadband Stock Performance
Liberty Broadband (NASDAQ:LBRDK – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($1.15). Liberty Broadband had a net margin of 87.75% and a return on equity of 9.55%. The business had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $244.25 million. During the same period in the previous year, the company posted $1.71 earnings per share. As a group, sell-side analysts forecast that Liberty Broadband will post 9.05 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in LBRDK. Norges Bank purchased a new stake in shares of Liberty Broadband in the fourth quarter valued at about $104,363,000. Assenagon Asset Management S.A. lifted its stake in shares of Liberty Broadband by 426.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,397,069 shares of the company’s stock valued at $76,587,000 after buying an additional 1,131,743 shares during the period. Whitebox Advisors LLC lifted its stake in shares of Liberty Broadband by 29.5% during the second quarter. Whitebox Advisors LLC now owns 2,978,107 shares of the company’s stock valued at $163,260,000 after buying an additional 677,785 shares during the period. Mango Investments LLC purchased a new position in shares of Liberty Broadband during the fourth quarter valued at approximately $49,570,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Liberty Broadband by 19.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,062,256 shares of the company’s stock valued at $113,045,000 after buying an additional 330,159 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.
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.
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