Zacks Investment Research Downgrades Liberty Sirius XM Group Series C (NASDAQ:LSXMK) to Sell

Liberty Sirius XM Group Series C (NASDAQ:LSXMK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “The Liberty SiriusXM Group provides satellite radio services consists of commercial-free music, sports, news, talk, entertainment, traffic and weather. The Liberty SiriusXM Group is based in United States. “

Other equities analysts have also issued reports about the company. Morgan Stanley lifted their price objective on Liberty Sirius XM Group Series C from $39.30 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Pivotal Research reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Liberty Sirius XM Group Series C in a research note on Tuesday, March 31st.

NASDAQ:LSXMK opened at $33.86 on Wednesday. The stock has a market cap of $7.14 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31. The stock’s 50-day moving average is $34.74 and its 200-day moving average is $40.20. Liberty Sirius XM Group Series C has a 1-year low of $23.01 and a 1-year high of $51.36.

Liberty Sirius XM Group Series C (NASDAQ:LSXMK) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.95 billion for the quarter. Equities analysts forecast that Liberty Sirius XM Group Series C will post 1.83 earnings per share for the current fiscal year.

In related news, major shareholder Berkshire Hathaway Inc purchased 2,374,180 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $36.47 per share, for a total transaction of $86,586,344.60. Insiders have purchased 4,841,130 shares of company stock valued at $172,052,755 in the last quarter.

Large investors have recently made changes to their positions in the business. Cornerstone Advisors Inc. grew its stake in Liberty Sirius XM Group Series C by 184.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 970 shares of the technology company’s stock valued at $31,000 after purchasing an additional 629 shares during the period. Flagship Harbor Advisors LLC bought a new position in Liberty Sirius XM Group Series C in the 1st quarter valued at $38,000. Mint Tower Capital Management B.V. purchased a new position in shares of Liberty Sirius XM Group Series C during the 4th quarter valued at $39,000. Americana Partners LLC purchased a new position in shares of Liberty Sirius XM Group Series C during the 4th quarter valued at $43,000. Finally, Simon Quick Advisors LLC lifted its position in shares of Liberty Sirius XM Group Series C by 174.8% during the 1st quarter. Simon Quick Advisors LLC now owns 1,954 shares of the technology company’s stock valued at $62,000 after buying an additional 1,243 shares during the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

Liberty Sirius XM Group Series C Company Profile

The Liberty SiriusXM Group, through its subsidiary, Sirius XM Holdings Inc, transmits music, sports, entertainment, comedy, talk, news, traffic, and weather channels in the United States and Canada. The company also provides infotainment services; and streaming services through applications for mobile and home devices, and other consumer electronic equipment, as well as online.

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