Rubric Capital Management LP Increases Stock Position in Liberty Global PLC $LILAK

Rubric Capital Management LP grew its stake in Liberty Global PLC (NASDAQ:LILAK) by 44.5% during the first quarter, Holdings Channel.com reports. The fund owned 15,395,430 shares of the company’s stock after acquiring an additional 4,738,495 shares during the period. Liberty Global accounts for about 1.4% of Rubric Capital Management LP’s investment portfolio, making the stock its 18th biggest position. Rubric Capital Management LP owned 0.08% of Liberty Global worth $135,788,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Liberty Global by 3.9% in the first quarter. Empowered Funds LLC now owns 796,975 shares of the company’s stock valued at $7,029,000 after buying an additional 29,933 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Liberty Global by 6.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 64,453 shares of the company’s stock worth $568,000 after acquiring an additional 3,845 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Liberty Global by 18.2% during the 1st quarter. Quantinno Capital Management LP now owns 135,702 shares of the company’s stock valued at $1,197,000 after acquiring an additional 20,878 shares during the period. Lazard Asset Management LLC boosted its holdings in Liberty Global by 7.7% during the 1st quarter. Lazard Asset Management LLC now owns 213,360 shares of the company’s stock valued at $1,882,000 after acquiring an additional 15,313 shares during the period. Finally, Sei Investments Co. acquired a new position in Liberty Global in the 1st quarter valued at about $227,000. 52.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Balan Nair acquired 164,914 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $6.07 per share, with a total value of $1,001,027.98. Following the completion of the acquisition, the chief executive officer owned 3,276,798 shares in the company, valued at $19,890,163.86. This trade represents a 5.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brendan J. Paddick acquired 100,000 shares of Liberty Global stock in a transaction dated Thursday, June 18th. The shares were bought at an average price of $4.88 per share, with a total value of $488,000.00. Following the transaction, the director directly owned 1,559,542 shares in the company, valued at approximately $7,610,564.96. The trade was a 6.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 14,820,228 shares of company stock valued at $121,249,631. 9.66% of the stock is owned by company insiders.

Liberty Global Trading Up 3.4%

Shares of LILAK opened at $7.68 on Tuesday. Liberty Global PLC has a twelve month low of $4.76 and a twelve month high of $9.13. The firm’s fifty day simple moving average is $7.39 and its 200-day simple moving average is $7.80. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -3.10 and a beta of 0.72.

Liberty Global (NASDAQ:LILAK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.15). Liberty Global had a negative net margin of 11.20% and a negative return on equity of 43.70%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion.

Analyst Upgrades and Downgrades

LILAK has been the topic of a number of recent research reports. Citigroup reiterated a “neutral” rating and set a $8.00 price target (up from $6.45) on shares of Liberty Global in a research note on Friday, July 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Global in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Liberty Global from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.10.

About Liberty Global

Liberty Global plc is a leading international telecommunications and television company, offering video, broadband Internet, fixed-line and mobile services to residential and business customers. Headquartered in London and operating as an ADR on the NASDAQ under the ticker LILAK, the company focuses on developing advanced broadband networks and delivering entertainment and connectivity solutions across Europe.

The company’s core products include high-speed cable broadband, digital and interactive television, fixed-line telephony, and mobile services.