The Liberty SiriusXM Group (NASDAQ:LSXMA) Shares Gap Up Following Insider Buying Activity

The Liberty SiriusXM Group (NASDAQ:LSXMA) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $24.31, but opened at $25.06. The Liberty SiriusXM Group shares last traded at $25.42, with a volume of 150,627 shares traded.

Specifically, major shareholder Berkshire Hathaway Inc acquired 219,303 shares of the company’s stock in a transaction on Friday, April 26th. The shares were bought at an average cost of $24.46 per share, for a total transaction of $5,364,151.38. Following the acquisition, the insider now directly owns 35,182,219 shares of the company’s stock, valued at $860,557,076.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 6,321,691 shares of company stock valued at $176,608,626.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of The Liberty SiriusXM Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $28.00 in a report on Wednesday, April 24th.

The Liberty SiriusXM Group Trading Up 5.3 %

The company has a fifty day simple moving average of $28.01 and a two-hundred day simple moving average of $27.99.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last issued 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 anticipate that The Liberty SiriusXM Group will post 1.41 EPS for the current year.

Institutional Trading of The Liberty SiriusXM Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC grew its stake in shares of The Liberty SiriusXM Group by 70,150.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,405 shares of the technology company’s stock valued at $40,000 after purchasing an additional 1,403 shares during the period. LWM Advisory Services LLC bought a new stake in The Liberty SiriusXM Group in the third quarter valued at $134,000. Seizert Capital Partners LLC acquired a new position in The Liberty SiriusXM Group during the fourth quarter worth $224,000. Robeco Institutional Asset Management B.V. bought a new position in shares of The Liberty SiriusXM Group during the fourth quarter valued at $234,000. Finally, Jump Financial LLC acquired a new stake in shares of The Liberty SiriusXM Group in the 3rd quarter valued at $244,000. 28.72% of the stock is currently owned by institutional investors.

About The Liberty SiriusXM Group

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.