California Public Employees Retirement System Decreases Stake in The Liberty SiriusXM Group (NASDAQ:LSXMK)

California Public Employees Retirement System cut its stake in The Liberty SiriusXM Group (NASDAQ:LSXMK) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,545 shares of the technology company’s stock after selling 25,407 shares during the period. California Public Employees Retirement System owned 0.09% of The Liberty SiriusXM Group worth $8,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in The Liberty SiriusXM Group by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 719,709 shares of the technology company’s stock valued at $18,324,000 after purchasing an additional 21,150 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new position in The Liberty SiriusXM Group during the 3rd quarter worth approximately $831,000. Levin Capital Strategies L.P. purchased a new position in The Liberty SiriusXM Group during the 3rd quarter worth approximately $255,000. Teacher Retirement System of Texas boosted its holdings in shares of The Liberty SiriusXM Group by 729.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 239,407 shares of the technology company’s stock valued at $6,095,000 after acquiring an additional 210,541 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of The Liberty SiriusXM Group by 8.7% in the third quarter. Daiwa Securities Group Inc. now owns 8,709 shares of the technology company’s stock worth $222,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 56.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of The Liberty SiriusXM Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Seaport Res Ptn upgraded The Liberty SiriusXM Group from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Liberty SiriusXM Group currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

The Liberty SiriusXM Group Stock Up 1.1 %

Shares of The Liberty SiriusXM Group stock opened at $25.05 on Friday. The Liberty SiriusXM Group has a twelve month low of $22.24 and a twelve month high of $31.67. The firm’s 50-day moving average price is $27.51 and its 200 day moving average price is $27.89.

The Liberty SiriusXM Group (NASDAQ:LSXMK) last released its earnings results on Wednesday, February 28th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $2.29 billion during the quarter. As a group, analysts anticipate that The Liberty SiriusXM Group will post 3.52 earnings per share for the current year.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 234,194 shares of the company’s stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $28.77 per share, for a total transaction of $6,737,761.38. Following the acquisition, the insider now directly owns 48,733,666 shares in the company, valued at $1,402,067,570.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 6,457,501 shares of company stock worth $179,148,132 over the last three months. Insiders own 12.47% of the company’s stock.

The Liberty SiriusXM Group 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.