Cove Street Capital LLC Boosts Stake in Liberty Global PLC (LBTYA)
Cove Street Capital LLC lifted its position in Liberty Global PLC (NASDAQ:LBTYA) by 13.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317,630 shares of the company’s stock after purchasing an additional 37,830 shares during the quarter. Liberty Global PLC accounts for about 1.2% of Cove Street Capital LLC’s holdings, making the stock its 28th largest holding. Cove Street Capital LLC’s holdings in Liberty Global PLC were worth $10,202,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of LBTYA. Standard Life Investments LTD purchased a new stake in Liberty Global PLC during the 2nd quarter valued at about $105,000. D.A. Davidson & CO. boosted its holdings in Liberty Global PLC by 69.6% during the 2nd quarter. D.A. Davidson & CO. now owns 3,348 shares of the company’s stock valued at $107,000 after acquiring an additional 1,374 shares during the period. Commonwealth Bank of Australia boosted its holdings in Liberty Global PLC by 96.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,712 shares of the company’s stock valued at $150,000 after acquiring an additional 2,316 shares during the period. Jacobi Capital Management LLC boosted its holdings in Liberty Global PLC by 1.1% during the 2nd quarter. Jacobi Capital Management LLC now owns 5,093 shares of the company’s stock valued at $162,000 after acquiring an additional 57 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in Liberty Global PLC during the 1st quarter valued at about $163,000. Hedge funds and other institutional investors own 22.04% of the company’s stock.
In other news, Director John C. Malone purchased 223,186 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average price of $21.76 per share, for a total transaction of $4,856,527.36. Following the completion of the acquisition, the director now owns 761,816 shares of the company’s stock, valued at $16,577,116.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David E. Rapley sold 2,985 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $32.81, for a total value of $97,937.85. Following the completion of the sale, the director now owns 14,795 shares of the company’s stock, valued at approximately $485,423.95. The disclosure for this sale can be found here. Insiders purchased 1,610,000 shares of company stock valued at $37,412,081 in the last quarter. 3.93% of the stock is owned by company insiders.
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Liberty Global PLC (LBTYA) traded up 1.72% on Friday, reaching $34.25. The company’s stock had a trading volume of 1,613,686 shares. The firm has a 50-day moving average of $33.70 and a 200-day moving average of $33.06. Liberty Global PLC has a one year low of $28.17 and a one year high of $37.69. The company has a market capitalization of $34.37 billion, a PE ratio of 37.64 and a beta of 1.66.
LBTYA has been the subject of several analyst reports. Macquarie restated a “buy” rating and set a $36.00 target price (down from $40.00) on shares of Liberty Global PLC in a report on Wednesday, June 21st. Zacks Investment Research upgraded Liberty Global PLC from a “sell” rating to a “hold” rating in a report on Friday, August 4th. UBS AG initiated coverage on Liberty Global PLC in a report on Friday, June 16th. They set a “neutral” rating and a $31.00 target price for the company. ValuEngine upgraded Liberty Global PLC from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, BidaskClub upgraded Liberty Global PLC from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $39.92.
Liberty Global PLC Company Profile
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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