Citigroup Downgrades The Liberty SiriusXM Group (NASDAQ:LSXMA) to Neutral

The Liberty SiriusXM Group (NASDAQ:LSXMA) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, MarketBeat reports. They currently have a $28.00 price objective on the technology company’s stock, down from their prior price objective of $35.00. Citigroup’s price objective suggests a potential upside of 14.15% from the company’s previous close.

The Liberty SiriusXM Group Price Performance

Shares of The Liberty SiriusXM Group stock opened at $24.53 on Wednesday. The Liberty SiriusXM Group has a fifty-two week low of $22.01 and a fifty-two week high of $31.69. The firm has a fifty day moving average price of $28.22 and a two-hundred day moving average price of $27.97.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.53 EPS for the quarter. The business had revenue of $2.29 billion for the quarter. As a group, analysts expect that The Liberty SiriusXM Group will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 495,739 shares of the stock in a transaction on Tuesday, January 30th. The stock was purchased at an average price of $30.12 per share, for a total transaction of $14,931,658.68. Following the transaction, the insider now owns 47,967,158 shares of the company’s stock, valued at approximately $1,444,770,798.96. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought 6,474,739 shares of company stock worth $183,064,288 in the last quarter. 12.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Liberty SiriusXM Group

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of The Liberty SiriusXM Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 10,876,251 shares of the technology company’s stock worth $312,583,000 after buying an additional 131,699 shares during the period. Aristeia Capital LLC grew its position in shares of The Liberty SiriusXM Group by 5.0% during the 3rd quarter. Aristeia Capital LLC now owns 3,314,144 shares of the technology company’s stock worth $84,345,000 after buying an additional 157,677 shares during the period. Point72 Asset Management L.P. grew its position in shares of The Liberty SiriusXM Group by 7.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,620,134 shares of the technology company’s stock worth $75,303,000 after buying an additional 190,608 shares during the period. Cadian Capital Management LP grew its position in shares of The Liberty SiriusXM Group by 35.2% during the 4th quarter. Cadian Capital Management LP now owns 1,474,376 shares of the technology company’s stock worth $42,374,000 after buying an additional 384,000 shares during the period. Finally, UBS Group AG boosted its stake in The Liberty SiriusXM Group by 769.2% during the 4th quarter. UBS Group AG now owns 1,402,409 shares of the technology company’s stock worth $40,305,000 after acquiring an additional 1,241,057 shares during the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.

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.