Cannon Global Investment Management LLC Invests $380,000 in The Liberty SiriusXM Group (NASDAQ:LSXMK)

Cannon Global Investment Management LLC purchased a new position in The Liberty SiriusXM Group (NASDAQ:LSXMK) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,200 shares of the technology company’s stock, valued at approximately $380,000. The Liberty SiriusXM Group comprises about 2.9% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 17th biggest position.

Other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in The Liberty SiriusXM Group during the first quarter valued at about $207,000. Citigroup Inc. grew its position in The Liberty SiriusXM Group by 22.7% during the first quarter. Citigroup Inc. now owns 94,617 shares of the technology company’s stock valued at $4,327,000 after acquiring an additional 17,515 shares during the period. MetLife Investment Management LLC purchased a new stake in The Liberty SiriusXM Group during the first quarter valued at about $146,000. BlackRock Inc. grew its position in The Liberty SiriusXM Group by 0.5% during the first quarter. BlackRock Inc. now owns 10,572,200 shares of the technology company’s stock valued at $483,466,000 after acquiring an additional 49,981 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in The Liberty SiriusXM Group by 0.3% during the first quarter. Great West Life Assurance Co. Can now owns 131,039 shares of the technology company’s stock valued at $6,355,000 after acquiring an additional 378 shares during the period. 56.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Liberty SiriusXM Group

In other The Liberty SiriusXM Group news, major shareholder Berkshire Hathaway Inc purchased 650,224 shares of The Liberty SiriusXM Group stock in a transaction that occurred on Tuesday, January 23rd. The stock was purchased at an average price of $30.96 per share, with a total value of $20,130,935.04. Following the completion of the acquisition, the insider now owns 47,118,902 shares of the company’s stock, valued at approximately $1,458,801,205.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 7,264,095 shares of company stock valued at $207,506,924. Insiders own 12.47% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised The Liberty SiriusXM Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th.

The Liberty SiriusXM Group Price Performance

Shares of NASDAQ LSXMK traded up $0.26 on Friday, hitting $24.47. The company had a trading volume of 664,097 shares, compared to its average volume of 2,254,654. The Liberty SiriusXM Group has a 12-month low of $22.24 and a 12-month high of $31.67. The business has a 50 day moving average of $28.66 and a two-hundred day moving average of $27.95.

The Liberty SiriusXM Group (NASDAQ:LSXMK) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $2.29 billion during the quarter.

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.