Seaport Res Ptn Upgrades The Liberty SiriusXM Group (NASDAQ:LSXMK) to “Buy”

The Liberty SiriusXM Group (NASDAQ:LSXMK) was upgraded by stock analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating in a report released 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 report 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 company has an average rating of “Moderate Buy” and a consensus target price of $36.00.

The Liberty SiriusXM Group Price Performance

Shares of LSXMK stock opened at $24.64 on Monday. The Liberty SiriusXM Group has a 12-month low of $22.24 and a 12-month high of $31.67. The stock has a 50 day simple moving average of $27.71 and a 200-day simple moving average of $27.92.

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

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 219,303 shares of the firm’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 purchase, the insider now directly owns 35,182,219 shares in the company, valued at $860,557,076.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 6,457,501 shares of company stock valued at $179,148,132 over the last ninety days. 12.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in The Liberty SiriusXM Group in the 4th quarter valued at about $60,012,000. Cadian Capital Management LP acquired a new position in The Liberty SiriusXM Group during the 3rd quarter worth $31,978,000. Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of The Liberty SiriusXM Group in the 4th quarter valued at $34,834,000. Vanguard Group Inc. raised its position in shares of The Liberty SiriusXM Group by 9.6% during the fourth quarter. Vanguard Group Inc. now owns 13,850,967 shares of the technology company’s stock worth $398,631,000 after acquiring an additional 1,208,124 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in The Liberty SiriusXM Group by 132.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,629,785 shares of the technology company’s stock valued at $41,494,000 after acquiring an additional 927,563 shares during the last quarter. 56.58% of the stock is owned by institutional investors and hedge funds.

The Liberty SiriusXM Group Company Profile

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.