Cannon Global Investment Management LLC Makes New Investment in The Liberty SiriusXM Group (NASDAQ:LSXMK)

Cannon Global Investment Management LLC purchased a new stake in shares of The Liberty SiriusXM Group (NASDAQ:LSXMK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,200 shares of the technology company’s stock, valued at approximately $380,000. The Liberty SiriusXM Group accounts for approximately 2.9% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of The Liberty SiriusXM Group during the 4th quarter valued at approximately $98,203,000. Cadian Capital Management LP purchased a new stake in shares of The Liberty SiriusXM Group during the 3rd quarter worth approximately $31,978,000. Arrowstreet Capital Limited Partnership raised its holdings in The Liberty SiriusXM Group by 90.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,540,035 shares of the technology company’s stock valued at $71,096,000 after buying an additional 1,208,230 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in The Liberty SiriusXM Group by 132.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,629,785 shares of the technology company’s stock valued at $41,494,000 after buying an additional 927,563 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in The Liberty SiriusXM Group by 599.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,005,433 shares of the technology company’s stock valued at $3,483,000 after buying an additional 861,782 shares during the period. 56.58% of the stock is currently owned by institutional investors.

The Liberty SiriusXM Group Trading Up 1.1 %

The Liberty SiriusXM Group stock traded up $0.26 during midday trading on Friday, reaching $24.47. The company’s stock had a trading volume of 664,097 shares, compared to its average volume of 2,254,654. The stock’s 50-day simple moving average is $28.66 and its 200-day simple moving average is $27.95. The Liberty SiriusXM Group has a 52-week low of $22.24 and a 52-week high of $31.67.

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

Insider Transactions at The Liberty SiriusXM Group

In related news, major shareholder Berkshire Hathaway Inc purchased 139,132 shares of The Liberty SiriusXM Group stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average cost of $30.99 per share, for a total transaction of $4,311,700.68. Following the completion of the transaction, the insider now owns 47,471,419 shares in the company, valued at $1,471,139,274.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 7,264,095 shares of company stock worth $207,506,924 over the last three months. 12.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com raised The Liberty SiriusXM Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th.

The Liberty SiriusXM Group 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.