The Liberty SiriusXM Group (NASDAQ:LSXMA) Rating Increased to Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of The Liberty SiriusXM Group (NASDAQ:LSXMA) from a neutral rating to a buy rating in a report published on Monday, Zacks.com reports. Seaport Res Ptn also issued estimates for The Liberty SiriusXM Group’s Q1 2024 earnings at $0.76 EPS, Q2 2024 earnings at $0.86 EPS, Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $3.52 EPS.

Separately, Citigroup cut The Liberty SiriusXM Group from a buy rating to a neutral rating and dropped their target price for the stock from $35.00 to $28.00 in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $37.67.

The Liberty SiriusXM Group Price Performance

Shares of NASDAQ:LSXMA opened at $24.63 on Monday. The firm has a fifty day simple moving average of $27.79 and a two-hundred day simple moving average of $27.96. The Liberty SiriusXM Group has a 52 week low of $22.01 and a 52 week high of $31.69.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.53 EPS for the quarter. The business had revenue of $2.29 billion during the quarter. On average, equities research analysts predict that The Liberty SiriusXM Group will post 1.41 EPS for the current year.

Insider Buying and Selling

In other The Liberty SiriusXM Group news, major shareholder Berkshire Hathaway Inc bought 311,637 shares of the company’s stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $25.47 per share, for a total transaction of $7,937,394.39. Following the completion of the transaction, the insider now directly owns 70,002,897 shares of the company’s stock, valued at $1,782,973,786.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 6,457,501 shares of company stock valued at $179,148,132. Company insiders own 12.47% of the company’s stock.

Institutional Trading of The Liberty SiriusXM Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in The Liberty SiriusXM Group by 46.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,744,552 shares of the technology company’s stock valued at $273,449,000 after buying an additional 3,416,321 shares in the last quarter. UBS Group AG raised its stake in shares of The Liberty SiriusXM Group by 769.2% during the fourth quarter. UBS Group AG now owns 1,402,409 shares of the technology company’s stock valued at $40,305,000 after acquiring an additional 1,241,057 shares in the last quarter. Cadian Capital Management LP bought a new position in The Liberty SiriusXM Group in the third quarter worth approximately $27,750,000. Boussard & Gavaudan Investment Management LLP purchased a new position in The Liberty SiriusXM Group during the 4th quarter worth $22,217,000. Finally, Segantii Capital Management Ltd purchased a new position in The Liberty SiriusXM Group during the 3rd quarter worth $19,088,000. Hedge funds and other institutional investors own 28.72% of the company’s stock.

The Liberty SiriusXM Group Company Profile

The Liberty SiriusXM Group, through its subsidiaries, engages in the entertainment business in the United States, the United Kingdom, and internationally. 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 SXM App for mobile and home devices, and other consumer electronic equipment.