The Liberty SiriusXM Group (NASDAQ:LSXMK) Stock Rating Upgraded by Seaport Res Ptn

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

The Liberty SiriusXM Group Trading Up 2.4 %

LSXMK stock opened at $24.64 on Monday. The stock has a 50-day moving average price of $27.71 and a two-hundred day moving average price of $27.92. The Liberty SiriusXM Group has a 1 year low of $22.24 and a 1 year high of $31.67.

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

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 20,609 shares of the business’s stock in a transaction on Monday, March 11th. The stock was purchased 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 directly owns 25,773,955 shares of the company’s stock, valued at approximately $771,672,212.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 6,457,501 shares of company stock worth $179,148,132 over the last three months. Insiders own 12.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LSXMK. Vanguard Group Inc. increased its stake in The Liberty SiriusXM Group by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 13,850,967 shares of the technology company’s stock valued at $398,631,000 after acquiring an additional 1,208,124 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in The Liberty SiriusXM Group by 4.4% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,205,655 shares of the technology company’s stock valued at $92,259,000 after acquiring an additional 135,472 shares during the last quarter. Seizert Capital Partners LLC grew its stake in shares of The Liberty SiriusXM Group by 11.8% during the third quarter. Seizert Capital Partners LLC now owns 2,165,962 shares of the technology company’s stock worth $55,145,000 after buying an additional 228,229 shares during the last quarter. Norges Bank bought a new stake in shares of The Liberty SiriusXM Group during the fourth quarter worth $60,012,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of The Liberty SiriusXM Group by 14.6% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,881,543 shares of the technology company’s stock worth $47,904,000 after buying an additional 239,744 shares during the last quarter. 56.58% of the stock is 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.