The Liberty SiriusXM Group (NASDAQ:LSXMK) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of The Liberty SiriusXM Group (NASDAQ:LSXMK – Get Rating) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the technology company’s stock.

A number of other equities analysts have also commented on the stock. Pivotal Research decreased their price target on shares of The Liberty SiriusXM Group from $44.00 to $36.00 in a report on Tuesday, May 9th. Morgan Stanley decreased their price objective on The Liberty SiriusXM Group from $41.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, April 13th.

The Liberty SiriusXM Group Trading Up 2.7 %

Shares of The Liberty SiriusXM Group stock opened at $28.51 on Thursday. The Liberty SiriusXM Group has a 12-month low of $25.02 and a 12-month high of $45.20. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 8.88 and a beta of 1.11. The company’s 50-day moving average price is $27.74 and its 200-day moving average price is $35.19.

The Liberty SiriusXM Group (NASDAQ:LSXMK – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.19. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.31 billion. On average, sell-side analysts predict that The Liberty SiriusXM Group will post 3.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman John C. Malone sold 119,680 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $74.59, for a total transaction of $8,926,931.20. Following the completion of the sale, the chairman now directly owns 3,550,381 shares in the company, valued at approximately $264,822,918.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other The Liberty SiriusXM Group news, CAO Brian J. Wendling sold 9,058 shares of the firm’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $73.22, for a total value of $663,226.76. Following the sale, the chief accounting officer now owns 8,137 shares of the company’s stock, valued at approximately $595,791.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman John C. Malone sold 119,680 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $74.59, for a total transaction of $8,926,931.20. Following the transaction, the chairman now directly owns 3,550,381 shares of the company’s stock, valued at $264,822,918.79. The disclosure for this sale can be found here. Over the last three months, insiders acquired 51,200 shares of company stock valued at $1,376,825 and sold 432,401 shares valued at $32,257,898. 12.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its position in The Liberty SiriusXM Group by 80.5% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 58,576 shares of the technology company’s stock valued at $1,640,000 after purchasing an additional 26,115 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in The Liberty SiriusXM Group in the 1st quarter worth $374,000. Sea Otter Advisors LLC bought a new position in The Liberty SiriusXM Group in the 1st quarter worth $1,261,000. Squarepoint Ops LLC bought a new position in The Liberty SiriusXM Group in the 1st quarter worth $205,000. Finally, Fort Baker Capital Management LP bought a new position in The Liberty SiriusXM Group in the 1st quarter worth $1,080,000. Hedge funds and other institutional investors own 55.23% of the company’s stock.

The Liberty SiriusXM Group Company Profile

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Liberty Media Corp. engages in the operation of media, communications, and entertainment businesses. It operates through the following segments: Sirius XM Holdings, Formula 1. The Sirius XM Holdings segment refers to the complementary audio entertainment businesses, Sirius XM and Pandora. Sirius XM features music, sports, entertainment, comedy, talk, news, traffic, weather channels, and infotainment services.