Pinnacle Associates Ltd. Reduces Holdings in The Liberty SiriusXM Group (NASDAQ:LSXMA)

Pinnacle Associates Ltd. cut its stake in The Liberty SiriusXM Group (NASDAQ:LSXMAGet Rating) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 462,510 shares of the technology company’s stock after selling 13,167 shares during the period. Pinnacle Associates Ltd. owned approximately 0.14% of The Liberty SiriusXM Group worth $21,141,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allegheny Financial Group LTD bought a new stake in shares of The Liberty SiriusXM Group in the 4th quarter valued at approximately $25,000. CWM LLC acquired a new stake in The Liberty SiriusXM Group in the 4th quarter valued at approximately $35,000. Rosenberg Matthew Hamilton bought a new position in shares of The Liberty SiriusXM Group during the 1st quarter worth approximately $56,000. Advisor Group Holdings Inc. raised its holdings in The Liberty SiriusXM Group by 13.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,547 shares of the technology company’s stock valued at $232,000 after acquiring an additional 545 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in shares of The Liberty SiriusXM Group by 11.4% during the 4th quarter. Westpac Banking Corp now owns 5,346 shares of the technology company’s stock worth $272,000 after buying an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 28.89% of the company’s stock.

Insider Transactions at The Liberty SiriusXM Group

In other The Liberty SiriusXM Group news, major shareholder Gamco Investors, Inc. Et Al purchased 2,000 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was purchased at an average price of $25.00 per share, with a total value of $50,000.00. Following the acquisition, the insider now owns 12,000 shares in the company, valued at $300,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 3,500 shares of company stock valued at $89,180 in the last ninety days.

The Liberty SiriusXM Group Stock Performance

Shares of NASDAQ LSXMA opened at $39.43 on Thursday. The stock has a 50 day moving average of $38.11 and a 200-day moving average of $43.23. The company has a market capitalization of $13.11 billion, a P/E ratio of 14.94 and a beta of 1.14. The Liberty SiriusXM Group has a 12 month low of $34.40 and a 12 month high of $56.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.92.

The Liberty SiriusXM Group (NASDAQ:LSXMAGet Rating) last announced its quarterly earnings results on Friday, May 6th. The technology company reported $0.82 earnings per share (EPS) for the quarter. The Liberty SiriusXM Group had a return on equity of 4.80% and a net margin of 10.18%. The business had revenue of $2.19 billion for the quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LSXMA shares. Deutsche Bank Aktiengesellschaft reduced their price objective on The Liberty SiriusXM Group from $79.00 to $76.00 in a report on Tuesday, May 10th. Citigroup increased their price objective on shares of The Liberty SiriusXM Group from $53.00 to $59.00 in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

About The Liberty SiriusXM Group

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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.

See Also

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Institutional Ownership by Quarter for The Liberty SiriusXM Group (NASDAQ:LSXMA)

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