Liberty Global’s (LILAK) “Neutral” Rating Reiterated at Citigroup

Liberty Global (NASDAQ:LILAK)‘s stock had its “neutral” rating reissued by stock analysts at Citigroup in a research report issued on Friday,Benzinga reports. They presently have a $8.00 target price on the stock, up from their prior target price of $6.45. Citigroup’s target price indicates a potential upside of 10.04% from the stock’s current price.

A number of other analysts also recently weighed in on LILAK. Weiss Ratings restated a “sell (d-)” rating on shares of Liberty Global in a report on Tuesday, April 21st. Wall Street Zen lowered 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 stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $8.10.

Liberty Global Stock Down 2.2%

NASDAQ:LILAK opened at $7.27 on Friday. The stock has a market cap of $1.46 billion, a PE ratio of -2.93 and a beta of 0.72. The business’s 50-day simple moving average is $7.51 and its two-hundred day simple moving average is $7.81. Liberty Global has a 52 week low of $4.76 and a 52 week high of $9.13.

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

Insider Buying and Selling

In related news, CEO Balan Nair acquired 164,914 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average cost of $6.07 per share, for a total transaction of $1,001,027.98. Following the purchase, the chief executive officer directly owned 3,276,798 shares of the company’s stock, valued at $19,890,163.86. This trade represents a 5.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John C. Malone purchased 12,406,463 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $8.63 per share, with a total value of $107,067,775.69. Following the completion of the transaction, the director owned 21,173,018 shares of the company’s stock, valued at approximately $182,723,145.34. The trade was a 141.52% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 14,820,228 shares of company stock valued at $121,249,631. 9.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liberty Global

Several hedge funds and other institutional investors have recently modified their holdings of LILAK. Empowered Funds LLC raised its holdings 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 worth $7,029,000 after buying an additional 29,933 shares during the last quarter. Cim Investment Management Inc. lifted its holdings in shares of Liberty Global by 142.3% in the 1st quarter. Cim Investment Management Inc. now owns 44,079 shares of the company’s stock valued at $389,000 after buying an additional 25,885 shares during the period. Bank of America Corp DE lifted its holdings in Liberty Global by 26.7% in the first quarter. Bank of America Corp DE now owns 467,627 shares of the company’s stock valued at $4,124,000 after acquiring an additional 98,507 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Liberty Global by 377.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,136 shares of the company’s stock valued at $28,000 after purchasing an additional 2,479 shares during the period. Finally, Rubric Capital Management LP raised its position in shares of Liberty Global by 44.5% in the first quarter. Rubric Capital Management LP now owns 15,395,430 shares of the company’s stock worth $135,788,000 after acquiring an additional 4,738,495 shares during the period. 52.98% of the stock is owned by hedge funds and other institutional investors.

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.