The Liberty SiriusXM Group (NASDAQ:LSXMA) Shares Gap Up Following Insider Buying Activity

The Liberty SiriusXM Group (NASDAQ:LSXMA)’s share price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $24.31, but opened at $25.06. The Liberty SiriusXM Group shares last traded at $25.42, with a volume of 150,627 shares changing hands.

Specifically, major shareholder Berkshire Hathaway Inc acquired 1,188,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $29.39 per share, with a total value of $34,915,320.00. Following the acquisition, the insider now directly owns 50,682,902 shares in the company, valued at approximately $1,489,570,489.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have acquired 6,321,691 shares of company stock worth $176,608,626 in the last quarter.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of The Liberty SiriusXM Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $35.00 to $28.00 in a research note on Wednesday, April 24th.

The Liberty SiriusXM Group Trading Down 6.1 %

The company’s fifty day moving average price is $27.89 and its 200-day moving average price is $27.98.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $2.29 billion for the quarter. Sell-side analysts forecast that The Liberty SiriusXM Group will post 1.41 EPS for the current year.

Hedge Funds Weigh In On The Liberty SiriusXM Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in The Liberty SiriusXM Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,876,251 shares of the technology company’s stock worth $312,583,000 after buying an additional 131,699 shares during the period. Aristeia Capital LLC increased its holdings in The Liberty SiriusXM Group by 5.0% in the 3rd quarter. Aristeia Capital LLC now owns 3,314,144 shares of the technology company’s stock worth $84,345,000 after buying an additional 157,677 shares during the period. Point72 Asset Management L.P. increased its holdings in The Liberty SiriusXM Group by 7.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,620,134 shares of the technology company’s stock worth $75,303,000 after buying an additional 190,608 shares during the period. Cadian Capital Management LP grew its stake in shares of The Liberty SiriusXM Group by 35.2% during the 4th quarter. Cadian Capital Management LP now owns 1,474,376 shares of the technology company’s stock worth $42,374,000 after purchasing an additional 384,000 shares during the period. Finally, UBS Group AG grew its stake in shares of The Liberty SiriusXM Group by 769.2% during the 4th quarter. UBS Group AG now owns 1,402,409 shares of the technology company’s stock worth $40,305,000 after purchasing an additional 1,241,057 shares during the period. Institutional investors and hedge funds 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.