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Pinnacle Associates Ltd. cut its stake in shares of The Liberty SiriusXM Group (NASDAQ:LSXMK – Get Rating) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,050 shares of the technology company’s stock after selling 5,125 shares during the quarter. Pinnacle Associates Ltd.’s holdings in The Liberty SiriusXM Group were worth $2,076,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Private Trust Co. NA purchased a new position in shares of The Liberty SiriusXM Group during the second quarter worth approximately $29,000. CWM LLC increased its holdings in The Liberty SiriusXM Group by 16.5% during the third quarter. CWM LLC now owns 1,711 shares of the technology company’s stock valued at $65,000 after buying an additional 242 shares during the period. Quantbot Technologies LP purchased a new position in The Liberty SiriusXM Group during the second quarter valued at approximately $90,000. MetLife Investment Management LLC purchased a new position in The Liberty SiriusXM Group during the first quarter valued at approximately $146,000. Finally, Prudential PLC purchased a new position in The Liberty SiriusXM Group during the first quarter valued at approximately $152,000. 55.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
LSXMK has been the topic of several research reports. Morgan Stanley cut their price objective on shares of The Liberty SiriusXM Group from $47.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th. StockNews.com started coverage on shares of The Liberty SiriusXM Group in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Rosenblatt Securities lowered their target price on shares of The Liberty SiriusXM Group from $85.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, November 7th.
The Liberty SiriusXM Group Price Performance
Shares of The Liberty SiriusXM Group stock opened at $41.19 on Friday. The firm has a fifty day moving average price of $41.38 and a 200 day moving average price of $40.61. The Liberty SiriusXM Group has a 1 year low of $34.34 and a 1 year high of $52.43. The stock has a market cap of $13.45 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.29 and a beta of 1.13.
The Liberty SiriusXM Group (NASDAQ:LSXMK – Get Rating) last issued its earnings results on Friday, November 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.28 billion. As a group, equities analysts expect that The Liberty SiriusXM Group will post 3.82 EPS for the current year.
Insider Buying and Selling
In other news, major shareholder Gamco Investors, Inc. Et Al acquired 800 shares of the business’s stock in a transaction on Friday, December 23rd. The stock was bought at an average price of $32.58 per share, with a total value of $26,064.00. Following the completion of the acquisition, the insider now owns 12,800 shares of the company’s stock, valued at $417,024. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Brian J. Wendling sold 24,218 shares of the business’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $46.46, for a total transaction of $1,125,168.28. Following the completion of the sale, the chief accounting officer now owns 3,173 shares of the company’s stock, valued at $147,417.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gamco Investors, Inc. Et Al bought 800 shares of the business’s stock in a transaction dated Friday, December 23rd. The shares were bought at an average cost of $32.58 per share, with a total value of $26,064.00. Following the purchase, the insider now directly owns 12,800 shares of the company’s stock, valued at $417,024. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 8,200 shares of company stock valued at $267,200 and sold 28,335 shares valued at $1,286,901. 12.47% of the stock is currently owned by corporate insiders.
About The Liberty SiriusXM Group
(Get Rating)
The Liberty SiriusXM Group, through its subsidiaries, engages in the entertainment business in the United States and Canada. It features music, sports, entertainment, comedy, talk, news, traffic, weather channels, podcast, and infotainment services through proprietary satellite radio systems, as well as streamed through applications for mobile and home devices, and other consumer electronic equipment.
Read More
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