Corvex Management LP Has $33.45 Million Stake in The Liberty SiriusXM Group (NASDAQ:LSXMA)

Corvex Management LP increased its position in The Liberty SiriusXM Group (NASDAQ:LSXMA) by 44.0% in the first quarter, HoldingsChannel reports. The firm owned 758,914 shares of the technology company’s stock after acquiring an additional 231,823 shares during the period. The Liberty SiriusXM Group accounts for about 1.6% of Corvex Management LP’s investment portfolio, making the stock its 13th biggest holding. Corvex Management LP’s holdings in The Liberty SiriusXM Group were worth $33,453,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LSXMA. Hall Laurie J Trustee boosted its stake in shares of The Liberty SiriusXM Group by 74.3% during the 1st quarter. Hall Laurie J Trustee now owns 610 shares of the technology company’s stock valued at $27,000 after buying an additional 260 shares during the period. Defined Wealth Management LLC bought a new position in shares of The Liberty SiriusXM Group during the 4th quarter valued at $28,000. Ellevest Inc. bought a new position in shares of The Liberty SiriusXM Group during the 1st quarter valued at $37,000. Fifth Third Bancorp raised its holdings in shares of The Liberty SiriusXM Group by 8,250.0% during the 1st quarter. Fifth Third Bancorp now owns 835 shares of the technology company’s stock valued at $37,000 after purchasing an additional 825 shares in the last quarter. Finally, FIL Ltd raised its holdings in shares of The Liberty SiriusXM Group by 492.2% during the 4th quarter. FIL Ltd now owns 1,297 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,078 shares in the last quarter. 26.61% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of The Liberty SiriusXM Group from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, June 9th. lifted their target price on shares of The Liberty SiriusXM Group from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, June 9th. Seven equities research analysts have rated the stock with a buy rating, The Liberty SiriusXM Group currently has an average rating of “Buy” and a consensus target price of $51.00.

Shares of NASDAQ:LSXMA traded down $0.21 on Thursday, hitting $46.14. 2,778 shares of the company were exchanged, compared to its average volume of 558,967. The firm’s 50 day moving average price is $44.77. The Liberty SiriusXM Group has a one year low of $31.64 and a one year high of $47.79. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.93 and a current ratio of 0.93.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last issued its earnings results on Friday, May 7th. The technology company reported ($0.03) earnings per share for the quarter. The Liberty SiriusXM Group had a negative net margin of 11.93% and a positive return on equity of 0.02%. The business had revenue of $2.06 billion for the quarter.

The Liberty SiriusXM Group Company Profile

Liberty Media Corp. engages in the operation media, communications, and entertainment businesses. It operates through the following segments: Sirius XM Holdings, Formula 1, and Corporate and Other. The Sirius XM Holdings segment refers to the complementary audio entertainment businesses, Sirius XM and Pandora.

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Institutional Ownership by Quarter for The Liberty SiriusXM Group (NASDAQ:LSXMA)

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