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

The Liberty SiriusXM Group (NASDAQ:LSXMA) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $28.00 target price on the technology company’s stock, down from their previous target price of $35.00. Citigroup’s price objective indicates a potential upside of 10.28% from the stock’s previous close.

The Liberty SiriusXM Group Stock Performance

LSXMA opened at $25.39 on Wednesday. The company’s 50 day moving average is $28.43 and its 200-day moving average is $28.01. 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 issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $2.29 billion during the quarter. On average, equities analysts expect that The Liberty SiriusXM Group will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 413,227 shares of the stock in a transaction on Friday, April 12th. The stock was purchased at an average price of $25.58 per share, for a total transaction of $10,570,346.66. Following the acquisition, the insider now owns 69,044,244 shares in the company, valued at $1,766,151,761.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders bought 6,613,871 shares of company stock worth $187,375,989.

Institutional Trading of The Liberty SiriusXM Group

Hedge funds have recently modified their holdings of the stock. TFO Wealth Partners LLC increased its holdings in shares of The Liberty SiriusXM Group by 70,150.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,405 shares of the technology company’s stock valued at $40,000 after acquiring an additional 1,403 shares in the last quarter. LWM Advisory Services LLC bought a new position in shares of The Liberty SiriusXM Group during the third quarter valued at $134,000. Seizert Capital Partners LLC bought a new position in shares of The Liberty SiriusXM Group during the fourth quarter valued at $224,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of The Liberty SiriusXM Group during the fourth quarter valued at $234,000. Finally, Jump Financial LLC purchased a new stake in shares of The Liberty SiriusXM Group during the third quarter valued at $244,000. Institutional investors own 28.72% of the company’s stock.

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.