Liberty Global PLC (NASDAQ:LBTYA) Rating Increased to Hold at Zacks Investment Research
Liberty Global PLC (NASDAQ:LBTYA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Liberty Global continues to grow in the Europe and Central America through several mergers and acquisitions and is looking for more takeover options to expand its footprint. The launch of DOCSIS 3.1 network services, joint venture with Vodafone in Netherlands, acquisition of UTV Ireland TV stations from ITV, takeover of Cable & Wireless bode well for the company's growth. Over the past three months, the share price of Liberty Global inched up 0.61% but failed to beat the industry's gain of 1.98%. On the other hand, Liberty Global’s predominant operation in Europe is a major concern because of recessionary pressure, debt crisis and low per capita income in some European countries. Further, stiff competition in the video, broadband, fixed-line telephony and mobile services business, foreign exchange rate risks and integration risks are major headwinds. “
Other analysts have also issued reports about the company. Jefferies Group LLC set a $43.00 target price on Liberty Global PLC and gave the stock a “buy” rating in a report on Saturday, June 17th. UBS AG assumed coverage on Liberty Global PLC in a report on Friday, June 16th. They set a “neutral” rating and a $31.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $42.00 target price on shares of Liberty Global PLC in a report on Monday, May 15th. BidaskClub raised Liberty Global PLC from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, ValuEngine lowered Liberty Global PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $39.85.
Shares of Liberty Global PLC (LBTYA) traded down 0.69% during midday trading on Friday, hitting $34.37. 1,976,290 shares of the stock traded hands. The stock has a 50 day moving average of $31.52 and a 200 day moving average of $33.57. The company has a market capitalization of $35.39 billion, a P/E ratio of 20.67 and a beta of 1.67. Liberty Global PLC has a 1-year low of $28.17 and a 1-year high of $37.69.
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In other news, Director John C. Malone acquired 139,052 shares of Liberty Global PLC stock in a transaction on Wednesday, July 5th. The stock was purchased at an average price of $21.74 per share, with a total value of $3,022,990.48. Following the completion of the purchase, the director now owns 761,816 shares of the company’s stock, valued at approximately $16,561,879.84. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John C. Malone acquired 384,673 shares of Liberty Global PLC stock in a transaction on Friday, July 7th. The stock was purchased at an average cost of $21.80 per share, with a total value of $8,385,871.40. Following the purchase, the director now directly owns 761,816 shares of the company’s stock, valued at approximately $16,607,588.80. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,610,000 shares of company stock valued at $37,412,081. 5.81% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of Liberty Global PLC during the first quarter worth approximately $163,000. Simplex Trading LLC purchased a new stake in shares of Liberty Global PLC during the second quarter worth approximately $164,000. Everett Harris & Co. CA purchased a new stake in shares of Liberty Global PLC during the first quarter worth approximately $201,000. Waldron LP purchased a new stake in shares of Liberty Global PLC during the first quarter worth approximately $209,000. Finally, World Asset Management Inc purchased a new stake in shares of Liberty Global PLC during the first quarter worth approximately $218,000. 22.80% of the stock is owned by hedge funds and other institutional investors.
About Liberty Global PLC
Liberty Global PLC, formerly Liberty Global, Inc, is an international cable company with operations in 14 countries. The Company’s tripleplay services are provided through networks and technology platforms that connect approximately 25 million customers subscribing to over 47 million television, broadband Internet and telephony services.
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