Evercore ISI Lowers Liberty Broadband (NASDAQ:LBRDA) Price Target to $72.00

Liberty Broadband (NASDAQ:LBRDA) had its target price decreased by analysts at Evercore ISI from $106.00 to $72.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 32.21% from the stock’s current price.

Liberty Broadband Price Performance

Shares of LBRDA traded up $0.54 during mid-day trading on Tuesday, reaching $54.46. The company had a trading volume of 15,652 shares, compared to its average volume of 149,161. The company’s 50 day simple moving average is $51.99 and its 200 day simple moving average is $60.60. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.11 and a beta of 1.03. Liberty Broadband has a 1-year low of $47.17 and a 1-year high of $95.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 1.81.

Liberty Broadband (NASDAQ:LBRDA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($1.11). Liberty Broadband had a net margin of 87.75% and a return on equity of 9.55%. The business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $248.46 million. Analysts expect that Liberty Broadband will post 12.03 EPS for the current year.

Insider Transactions at Liberty Broadband

In related news, Director J David Wargo sold 10,000 shares of Liberty Broadband stock in a transaction on Friday, April 5th. The shares were sold at an average price of $51.43, for a total value of $514,300.00. Following the completion of the sale, the director now owns 87,332 shares of the company’s stock, valued at approximately $4,491,484.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 14.19% of the company’s stock.

Institutional Investors Weigh In On Liberty Broadband

A number of hedge funds have recently made changes to their positions in LBRDA. Citigroup Inc. grew its holdings in shares of Liberty Broadband by 14.2% during the third quarter. Citigroup Inc. now owns 1,348 shares of the company’s stock worth $123,000 after purchasing an additional 168 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Liberty Broadband by 4.7% during the fourth quarter. Raymond James & Associates now owns 6,739 shares of the company’s stock worth $543,000 after purchasing an additional 301 shares in the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Liberty Broadband by 1.6% during the fourth quarter. VisionPoint Advisory Group LLC now owns 30,196 shares of the company’s stock worth $2,435,000 after purchasing an additional 478 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Liberty Broadband by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,838 shares of the company’s stock worth $505,000 after purchasing an additional 540 shares in the last quarter. Finally, AMI Investment Management Inc. boosted its stake in Liberty Broadband by 1.8% in the fourth quarter. AMI Investment Management Inc. now owns 33,738 shares of the company’s stock worth $2,721,000 after buying an additional 584 shares in the last quarter. 10.29% of the stock is currently owned by institutional investors.

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.