The Liberty SiriusXM Group (NASDAQ:LSXMA) Raised to “Buy” at Seaport Res Ptn

The Liberty SiriusXM Group (NASDAQ:LSXMA) was upgraded by equities researchers at Seaport Res Ptn from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. Seaport Res Ptn also issued estimates for The Liberty SiriusXM Group’s Q1 2024 earnings at $0.76 EPS, Q2 2024 earnings at $0.86 EPS, Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $3.52 EPS.

Separately, Citigroup downgraded The Liberty SiriusXM Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $28.00 in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

The Liberty SiriusXM Group Trading Up 2.4 %

Shares of NASDAQ LSXMA opened at $24.63 on Monday. The Liberty SiriusXM Group has a twelve month low of $22.01 and a twelve month high of $31.69. The business has a 50 day simple moving average of $27.79 and a 200-day simple moving average of $27.96.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.53 earnings per share for the quarter. The firm had revenue of $2.29 billion during the quarter. Research analysts predict that The Liberty SiriusXM Group will post 1.41 earnings per share for the current fiscal year.

Insider Activity at The Liberty SiriusXM Group

In related news, major shareholder Berkshire Hathaway Inc acquired 234,194 shares of The Liberty SiriusXM Group stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $28.77 per share, for a total transaction of $6,737,761.38. Following the transaction, the insider now directly owns 48,733,666 shares of the company’s stock, valued at approximately $1,402,067,570.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased 6,457,501 shares of company stock worth $179,148,132 in the last 90 days. 12.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in shares of The Liberty SiriusXM Group by 28.9% in the third quarter. Commonwealth Equity Services LLC now owns 40,054 shares of the technology company’s stock worth $1,019,000 after purchasing an additional 8,988 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of The Liberty SiriusXM Group by 6.6% in the third quarter. Brown Advisory Inc. now owns 33,080 shares of the technology company’s stock worth $842,000 after purchasing an additional 2,060 shares in the last quarter. Simplex Trading LLC grew its stake in shares of The Liberty SiriusXM Group by 4.8% in the third quarter. Simplex Trading LLC now owns 41,614 shares of the technology company’s stock worth $1,059,000 after purchasing an additional 1,901 shares in the last quarter. swisspartners Advisors Ltd grew its stake in shares of The Liberty SiriusXM Group by 0.9% in the third quarter. swisspartners Advisors Ltd now owns 161,770 shares of the technology company’s stock worth $3,769,000 after purchasing an additional 1,480 shares in the last quarter. Finally, LWM Advisory Services LLC bought a new position in shares of The Liberty SiriusXM Group in the third quarter worth $134,000. Institutional investors and hedge funds own 28.72% of the company’s stock.

About The Liberty SiriusXM Group

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.