The Liberty SiriusXM Group (NASDAQ:LSXMK) Position Boosted by Corvex Management LP

Corvex Management LP lifted its stake in shares of The Liberty SiriusXM Group (NASDAQ:LSXMK) by 87.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,012,602 shares of the technology company’s stock after purchasing an additional 471,686 shares during the period. The Liberty SiriusXM Group comprises about 2.2% of Corvex Management LP’s investment portfolio, making the stock its 11th biggest holding. Corvex Management LP owned about 0.45% of The Liberty SiriusXM Group worth $44,666,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in The Liberty SiriusXM Group by 2.3% in the first quarter. BlackRock Inc. now owns 12,138,431 shares of the technology company’s stock worth $535,426,000 after acquiring an additional 271,013 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in The Liberty SiriusXM Group by 15.4% in the first quarter. JPMorgan Chase & Co. now owns 10,878,827 shares of the technology company’s stock worth $479,866,000 after acquiring an additional 1,449,595 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in The Liberty SiriusXM Group by 4.4% in the first quarter. D. E. Shaw & Co. Inc. now owns 7,637,743 shares of the technology company’s stock worth $336,901,000 after acquiring an additional 324,044 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in The Liberty SiriusXM Group by 1.5% in the first quarter. Clearbridge Investments LLC now owns 5,772,472 shares of the technology company’s stock worth $254,624,000 after acquiring an additional 86,766 shares during the last quarter. Finally, River Road Asset Management LLC lifted its holdings in The Liberty SiriusXM Group by 37.4% in the first quarter. River Road Asset Management LLC now owns 2,869,597 shares of the technology company’s stock worth $126,578,000 after acquiring an additional 781,051 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ LSXMK traded down $0.21 during mid-day trading on Thursday, reaching $45.84. 1,209 shares of the company traded hands, compared to its average volume of 766,771. The Liberty SiriusXM Group has a fifty-two week low of $31.54 and a fifty-two week high of $47.40. The company has a fifty day moving average of $44.52.

The Liberty SiriusXM Group (NASDAQ:LSXMK) last posted its quarterly earnings data on Friday, May 7th. The technology company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.30). The company had revenue of $2.06 billion for the quarter. Analysts forecast that The Liberty SiriusXM Group will post 1.05 EPS for the current year.

A number of brokerages have issued reports on LSXMK. Morgan Stanley raised their price target on shares of The Liberty SiriusXM Group from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, April 20th. Zacks Investment Research lowered shares of The Liberty SiriusXM Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 4th.

The Liberty SiriusXM Group Company Profile

The Liberty SiriusXM Group, through its subsidiaries, engages in entertainment business in the United States and Canada. It features music, sports, entertainment, comedy, talk, news, traffic, and weather channels, and infotainment services through proprietary satellite radio systems, as well as from internet through applications for mobile and home devices, and other consumer electronic equipment.

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Institutional Ownership by Quarter for The Liberty SiriusXM Group (NASDAQ:LSXMK)

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