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

Seaport Res Ptn upgraded shares of The Liberty SiriusXM Group (NASDAQ:LSXMK) from a neutral rating to a buy rating in a research note published 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, StockNews.com upgraded The Liberty SiriusXM Group from a sell rating to a hold rating in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $36.00.

The Liberty SiriusXM Group Stock Performance

The Liberty SiriusXM Group stock opened at $24.64 on Monday. The Liberty SiriusXM Group has a 1 year low of $22.24 and a 1 year high of $31.67. The firm’s 50-day moving average is $27.71 and its 200-day moving average is $27.92.

The Liberty SiriusXM Group (NASDAQ:LSXMK) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The business had revenue of $2.29 billion for the quarter.

Insider Buying and Selling at The Liberty SiriusXM Group

In other The Liberty SiriusXM Group news, major shareholder Berkshire Hathaway Inc acquired 20,609 shares of The Liberty SiriusXM Group stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $29.94 per share, for a total transaction of $617,033.46. Following the completion of the transaction, the insider now owns 25,773,955 shares in the company, valued at approximately $771,672,212.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought 6,457,501 shares of company stock valued at $179,148,132 in the last ninety days. Company insiders own 12.47% of the company’s stock.

Institutional Investors Weigh In On The Liberty SiriusXM Group

A number of hedge funds and other institutional investors have recently modified their holdings of LSXMK. Norges Bank bought a new position in The Liberty SiriusXM Group in the 4th quarter valued at about $60,012,000. Cadian Capital Management LP bought a new position in shares of The Liberty SiriusXM Group in the third quarter valued at approximately $31,978,000. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of The Liberty SiriusXM Group during the fourth quarter valued at approximately $34,834,000. Vanguard Group Inc. raised its holdings in The Liberty SiriusXM Group by 9.6% during the fourth quarter. Vanguard Group Inc. now owns 13,850,967 shares of the technology company’s stock worth $398,631,000 after purchasing an additional 1,208,124 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in The Liberty SiriusXM Group by 132.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,629,785 shares of the technology company’s stock worth $41,494,000 after purchasing an additional 927,563 shares during the period. 56.58% of the stock is currently owned by institutional investors.

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.