Liberty Global PLC (LBTYA) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Liberty Global PLC (NASDAQ:LBTYA) from a buy rating to a hold rating in a report published on Tuesday.
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. Launch of Telenet Innovation Center will help the company create and test new products focused on new mobile technologies. Liberty Global launched a new customer-friendly app, Connect App. The launch of DOCSIS 3.1 network services, joint venture with Vodafone in Netherlands, buyout of UTV Ireland TV stations from ITV, takeover of Cable & Wireless bode well for the company's growth. On the other hand, Liberty Global’s predominant operation in Europe remains a major concern. Further, stiff competition in the video, broadband, fixed-line telephony and mobile services business, foreign exchange rate risks and integration risks are major risks. Over the past six months, the stock price declined 6.4% as against the industry’s growth of 2.0%.”
A number of other research analysts have also commented on LBTYA. Jefferies Group LLC set a $43.00 price target on shares of Liberty Global PLC and gave the company a buy rating in a research note on Saturday, June 17th. UBS AG assumed coverage on shares of Liberty Global PLC in a research note on Friday, June 16th. They issued a neutral rating and a $31.00 price target on the stock. Macquarie lowered shares of Liberty Global PLC from an outperform rating to a neutral rating in a research note on Wednesday, September 27th. Royal Bank Of Canada reiterated an outperform rating and issued a $40.00 price target on shares of Liberty Global PLC in a research note on Monday, October 2nd. Finally, BidaskClub upgraded shares of Liberty Global PLC from a buy rating to a strong-buy rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Liberty Global PLC currently has a consensus rating of Buy and a consensus price target of $40.83.
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In other news, Director David E. Rapley sold 2,985 shares of the company’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 transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Malone sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $32.51, for a total transaction of $2,925,900.00. Following the sale, the director now directly owns 6,625,227 shares of the company’s stock, valued at approximately $215,386,129.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,985 shares of company stock worth $5,994,738. Company insiders own 3.93% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Allen Investment Management LLC lifted its holdings in shares of Liberty Global PLC by 14.6% during the 2nd quarter. Allen Investment Management LLC now owns 90,921 shares of the company’s stock worth $2,920,000 after acquiring an additional 11,561 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in shares of Liberty Global PLC during the 2nd quarter worth approximately $1,754,000. Legal & General Group Plc lifted its holdings in shares of Liberty Global PLC by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 1,097,107 shares of the company’s stock worth $35,238,000 after acquiring an additional 15,011 shares during the period. Beck Mack & Oliver LLC lifted its holdings in shares of Liberty Global PLC by 25.1% during the 2nd quarter. Beck Mack & Oliver LLC now owns 1,541,373 shares of the company’s stock worth $49,509,000 after acquiring an additional 308,913 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Liberty Global PLC during the 1st quarter worth approximately $288,000. 22.04% of the stock is owned by institutional investors.
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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