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

Citigroup cut shares of The Liberty SiriusXM Group (NASDAQ:LSXMA) from a buy rating to a neutral rating in a report issued on Wednesday morning, MarketBeat.com reports. Citigroup currently has $28.00 price target on the technology company’s stock, down from their previous price target of $35.00.

The Liberty SiriusXM Group Price Performance

NASDAQ:LSXMA opened at $24.31 on Wednesday. The Liberty SiriusXM Group has a 12 month low of $22.01 and a 12 month high of $31.69. The company’s 50 day moving average is $28.10 and its 200-day moving average is $27.96.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.53 EPS for the quarter. The firm had revenue of $2.29 billion during the quarter. Sell-side analysts forecast that The Liberty SiriusXM Group will post 1.41 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 219,303 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were acquired at an average price of $24.46 per share, with a total value of $5,364,151.38. Following the completion of the transaction, the insider now owns 35,182,219 shares of the company’s stock, valued at approximately $860,557,076.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have purchased 6,817,430 shares of company stock valued at $191,540,285. 12.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Liberty SiriusXM Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina increased its holdings in The Liberty SiriusXM Group by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 32,939 shares of the technology company’s stock valued at $947,000 after buying an additional 330 shares during the period. Equitable Trust Co. increased its holdings in The Liberty SiriusXM Group by 7.2% in the 4th quarter. Equitable Trust Co. now owns 16,517 shares of the technology company’s stock valued at $475,000 after buying an additional 1,105 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of The Liberty SiriusXM Group by 1.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 71,865 shares of the technology company’s stock valued at $1,829,000 after purchasing an additional 1,115 shares in the last quarter. Jump Financial LLC boosted its stake in shares of The Liberty SiriusXM Group by 12.7% in the 4th quarter. Jump Financial LLC now owns 10,816 shares of the technology company’s stock valued at $311,000 after purchasing an additional 1,216 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of The Liberty SiriusXM Group by 70,150.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,405 shares of the technology company’s stock valued at $40,000 after purchasing an additional 1,403 shares in the last quarter. Institutional investors 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.