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

Citigroup cut shares of The Liberty SiriusXM Group (NASDAQ:LSXMA) from a buy rating to a neutral rating in a research note released on Wednesday morning, Marketbeat Ratings reports. Citigroup currently has $28.00 price objective on the technology company’s stock, down from their previous price objective of $35.00.

The Liberty SiriusXM Group Price Performance

Shares of The Liberty SiriusXM Group stock opened at $24.31 on Wednesday. The firm has a fifty day moving average price of $28.10 and a 200 day moving average price of $27.96. The Liberty SiriusXM Group has a 1 year low of $22.01 and a 1 year high of $31.69.

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 for the quarter. As a group, equities analysts expect that The Liberty SiriusXM Group will post 1.41 EPS for the current year.

Insider Buying and Selling

In other The Liberty SiriusXM Group news, major shareholder Berkshire Hathaway Inc purchased 219,303 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were purchased at an average cost of $24.46 per share, for a total transaction 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 6,817,430 shares of company stock worth $191,540,285. 12.47% of the stock is owned by insiders.

Hedge Funds Weigh In On The Liberty SiriusXM Group

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

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.