Zacks Investment Research upgraded shares of Liberty Global PLC (NASDAQ:LBTYA) from a hold rating to a buy rating in a research note released on Tuesday, October 31st. They currently have $35.00 price objective on the stock.
According to Zacks, “Liberty Global continues to grow in the Europe and Central America through several mergers and acquisitions and is looking for more takeover options to expand its footprint. Launch of Telenet Innovation Center will help the company create and test new products focused on new mobile technologies. Liberty Global launched a new customer-friendly app, Connect App. The launch of DOCSIS 3.1 network services, joint venture with Vodafone in Netherlands, buyout of UTV Ireland TV stations from ITV, takeover of Cable & Wireless bode well for the company's growth. On the other hand, Liberty Global’s predominant operation in Europe remains a major concern. Further, stiff competition in the video, broadband, fixed-line telephony and mobile services business, foreign exchange rate risks and integration risks are major risks. Over the past three months, the stock price declined 10.0% as against the industry’s loss of 12.0%.”
A number of other equities analysts also recently issued reports on LBTYA. ValuEngine downgraded shares of Liberty Global PLC from a buy rating to a hold rating in a report on Tuesday, August 1st. BidaskClub raised shares of Liberty Global PLC from a hold rating to a buy rating in a report on Wednesday, July 19th. Redburn Partners raised shares of Liberty Global PLC to a buy rating in a report on Tuesday, July 11th. Pivotal Research cut their price objective on shares of Liberty Global PLC from $42.00 to $41.00 and set a buy rating on the stock in a report on Tuesday, July 18th. Finally, Jefferies Group LLC set a $42.00 price objective on shares of Liberty Global PLC and gave the stock a buy rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Liberty Global PLC currently has a consensus rating of Buy and a consensus target price of $40.13.
Shares of Liberty Global PLC (LBTYA) traded up $0.31 during mid-day trading on Tuesday, reaching $30.14. 2,372,963 shares of the company’s stock were exchanged, compared to its average volume of 1,707,686. The company has a market cap of $24,730.02, a price-to-earnings ratio of 36.76 and a beta of 1.62. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.64. Liberty Global PLC has a fifty-two week low of $28.17 and a fifty-two week high of $37.69.
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In related news, Director John C. Malone sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $33.01, for a total value of $2,970,900.00. Following the transaction, the director now directly owns 4,975,876 shares in the company, valued at $164,253,666.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J David Wargo acquired 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $22.08 per share, for a total transaction of $1,656,000.00. Following the completion of the transaction, the director now owns 119,445 shares of the company’s stock, valued at approximately $2,637,345.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 270,000 shares of company stock worth $8,636,400. Company insiders own 5.81% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Americafirst Capital Management LLC purchased a new stake in Liberty Global PLC in the third quarter worth approximately $108,000. D.A. Davidson & CO. boosted its stake in Liberty Global PLC by 69.6% in the second quarter. D.A. Davidson & CO. now owns 3,348 shares of the company’s stock worth $107,000 after buying an additional 1,374 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in Liberty Global PLC by 96.7% in the second quarter. Commonwealth Bank of Australia now owns 4,712 shares of the company’s stock worth $150,000 after buying an additional 2,316 shares in the last quarter. Standard Life Investments LTD purchased a new stake in Liberty Global PLC in the second quarter worth approximately $105,000. Finally, Jacobi Capital Management LLC boosted its stake in Liberty Global PLC by 1.1% in the second quarter. Jacobi Capital Management LLC now owns 5,093 shares of the company’s stock worth $162,000 after buying an additional 57 shares in the last quarter. Institutional investors own 22.53% of the company’s stock.
About Liberty Global PLC
Liberty Global PLC, formerly Liberty Global, Inc, is an international cable company with operations in 14 countries. The Company’s tripleplay services are provided through networks and technology platforms that connect approximately 25 million customers subscribing to over 47 million television, broadband Internet and telephony services.
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