The Liberty SiriusXM Group (NASDAQ:LSXMK) Sees Large Decrease in Short Interest

The Liberty SiriusXM Group (NASDAQ:LSXMK) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 5,700,000 shares, a decline of 7.0% from the October 15th total of 6,130,000 shares. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is presently 4.8 days. Approximately 2.9% of the company’s stock are short sold.

The Liberty SiriusXM Group Stock Performance

Shares of NASDAQ:LSXMK opened at $26.37 on Friday. The Liberty SiriusXM Group has a twelve month low of $22.24 and a twelve month high of $27.01. The firm has a 50 day simple moving average of $24.66 and a 200-day simple moving average of $27.29.

Institutional Trading of The Liberty SiriusXM Group

Large investors have recently bought and sold shares of the business. Wolverine Trading LLC purchased a new position in The Liberty SiriusXM Group during the 3rd quarter worth $790,000. Morgan Stanley increased its holdings in shares of The Liberty SiriusXM Group by 11.9% in the 3rd quarter. Morgan Stanley now owns 1,285,404 shares of the technology company’s stock valued at $32,726,000 after purchasing an additional 136,451 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of The Liberty SiriusXM Group in the 3rd quarter valued at about $284,000. Kepos Capital LP purchased a new position in shares of The Liberty SiriusXM Group in the 3rd quarter valued at about $1,273,000. Finally, Laurion Capital Management LP purchased a new position in shares of The Liberty SiriusXM Group in the 3rd quarter valued at about $13,736,000. Institutional investors and hedge funds own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LSXMK. Morgan Stanley dropped their price objective on shares of The Liberty SiriusXM Group from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, August 15th. Pivotal Research lifted their price target on shares of The Liberty SiriusXM Group from $34.00 to $41.00 in a research note on Tuesday, September 26th. Rosenblatt Securities decreased their price target on shares of The Liberty SiriusXM Group from $53.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, September 6th. TheStreet upgraded shares of The Liberty SiriusXM Group from a “d+” rating to a “c-” rating in a research note on Wednesday, September 27th. Finally, StockNews.com started coverage on shares of The Liberty SiriusXM Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

The Liberty SiriusXM Group Company Profile

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.